The BLOM Stock Index (BSI) added an incremental 0.16% over the past week to reach 1,133.20 points by May 11, 2018. The market capitalization also rose from last week’s $11.15B to $11.16B this week.
An average of 464,269 shares worth $3.20M were traded on the Beirut Stock Exchange (BSE) this week, compared to 133,196 shares worth $1.02M in the previous week.
Regionally, the MSCI Emerging Markets Index rose by a weekly 1.64%, while the S&P AFE 40 and the S&P Pan Arab Composite Large Mid Cap Index slipped by 2.13% and 1.72%, respectively.
This week’s top gainer was the Bahrain stock exchange adding 0.57% over the week.
Meanwhile, the market’s top losers were Egypt’s Stock Index and the Abu Dhabi stock market which closed the week in the red, retreating by 3.80% and 2.61%, respectively.
On the Beirut Stock Exchange (BSE), the banking sector grasped 88.15% of the total traded value followed by 11.28% accounted for by the real estate sector and 0.57% grasped by the industrial sector.
In the banking sector, BLOM Bank’s GDR shares and Byblos Bank Listed shares gained 0.78% and 0.66% to $11.60 and $1.52, respectively. BLOM Bank listed shares dropped by 0.90% to $11.
As for the BLOM Preferred Shares Index (BPSI), it dropped by a weekly 0.38% to 104.58 points, mainly due to the 1.50% weekly drop of Byblos Bank’s preferred 2009 shares to $98.40.
On the London Stock Exchange, the GDRs of BLOM Bank and Bank Audi registered weekly increases of 0.86% and 1.77% to end the week at $11.70 and $5.75, respectively.
In the real estate sector, Solidere A increased by a weekly 2.61% to $8.65 while Solidere B shares dropped by 0.12% to end the week at $8.43.
In the industrial sector, HOLCIM shares grew by a weekly 3.16% to $15.33.
The long awaited parliamentary elections are expected to boost the performance of the Lebanese stock market in the following weeks. However, disputes over a cabinet formation could manage to disrupt the expected growth in the bourse.