The Real Estate Sector Dominated Trade on the BSE this Week 

 The BLOM Stock Index (BSI) gained 1.22% over the week to reach 1,186 points. Accordingly, the market capitalization rose from $11.55B last week to $11.69B, this week.

In fact, an average of 117,272 shares worth $953,858 was traded during this week compared to 49,302 shares worth $516,508 last week.

The S&P Pan Arab Composite Large Mid Cap Index and the S&P AFE 40 registered weekly upticks of 0.71% and 0.24%, respectively, while the MSCI Emerging Markets Index lost 3.88% this week.

Regionally, the week’s largest gainers were Tunisia, Saudi Arabia, and Egypt bourses which respectively rose by 1.56%, 1.41% and 1.77%. Meanwhile, the biggest losers of the week were the financial markets of Bahrain, Dubai, and Qatar which respectively lost 1.35%, 3.06%, and 3.37% over the past week.

On the Beirut Stock Exchange (BSE), the real estate grasped 56.73% of the week’s total traded value, while the banking sector and the industrial sectors each grasped a stake of 43.25%and 0.02%, respectively.

In the banking sector, BLOM Bank’s GDR and listed shares rose by a weekly 1.74% and 1.28% to end the week at $12.25 and $11.90, respectively. Moreover, Bank Audi listed shares and Bank Byblos Listed shares increased by 1.31% and 0.62% to stand at $6.20 and $1.62, respectively. Meanwhile, Bank Audi’s GDRs fell by a weekly 0.81% to $6.15.

As for the BLOM Preferred Shares Index (BPSI), it rose by a weekly 0.87% to 107.64 points on the back of a 3.40% rise in the price of Byblos Preferred 2009 to $106.50.

In the real estate sector, Solidere A and B shares both registered weekly growth rates of 4.55% and 4.76%, to end the week at $8.51 and $8.59, respectively.

In the industrial sector, HOLCIM’s listed shares lost 3% to $14.55.

On the London Stock Exchange, BLOM Bank’s GDR shares rose by 2.52% to $12.20 while Bank Audi’s GDR shares fell by a weekly 3.13% to $6.2.

The bourse’s performance in the coming weeks will most probably witness a slowdown in activity to Easter holidays. However, April may witness an improvement in activity following the release of the Lebanese Banks’ financial statements and depending on the outcome of CEDRE conference.


Leave a Reply

Your email address will not be published. Required fields are marked *