BSI Lifted by Banking Stocks over the Past Week

The BLOM Stock Index (BSI) added an incremental 0.09% over the past week to reach 1,131.34 points by May 3, 2018. The market capitalization also rose from last week’s $11.14B to $11.15B this week.

An average of 133,196 shares worth $1.02M were traded on the Beirut Stock Exchange (BSE) this week, compared to 319,580 shares worth $1.4 million in the previous week.

Regional indices were in the red this past week with the S&P AFE 40, the S&P Pan Arab Composite Large Mid Cap Index, and the MSCI Emerging Markets Index all slipping by weekly rates of 1.25%, 1.61% and 0.57%, respectively.

The week’s top gainer was the Tunisian stock exchange adding 0.21% over the week.

Meanwhile, the market’s top losers were the Abu Dhabi and Dubai Stock Indices (UAE ADX & UAE DFM) which closed the week in the red, retreating by 2.99% and 3.12%, respectively.

On the Beirut Stock Exchange (BSE), the banking sector grasped 77.63% of the total traded value followed by 21% accounted for by the real estate sector and 1.16% grasped by the industrial sector.

In the banking sector, BLOM Bank’s GDR shares gained 0.52% to $11.51.

Bank Audi’s GDR shares gained 0.87% to $5.80 and Byblos Bank’s listed shares rose by a weekly 0.67% to $1.51.

As for the BLOM Preferred Shares Index (BPSI), it dropped by a weekly 0.28% to 104.98 points. In fact, Byblos Bank’s preferred 2008 and 2009 shares registered weekly drops of 1.00% and 0.10% to end the week at $99.00 and $99.90, respectively.

On the London Stock Exchange, the GDRs of BLOM Bank and Bank Audi registered weekly increases of 3.57% and 0.89% to end the week at $11.60 and $5.65, respectively.

In the real estate sector, Solidere A and B shares dropped by 1.17% and 0.72% to end the week at $8.43 and $8.44, respectively.

Trading on the BSE will resume on Tuesday after the elections set to take place this Sunday, the 6th of May, are over.



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