The BLOM Stock Index (BSI) decreased by 1.01% to reach 973.43points over the last week. The market capitalization declined from $9.58B, last week, to $9.49B this week. On average, 73,406 shares worth $386,064 were traded on the BSE in the week ending November 16 compared to 190,281 shares worth $2,306,924 traded last week.
Regionally, during the week, the S&P AFE 40, the S&P Pan Arab Composite Large Mid Cap Index and the MSCI Emerging Markets Index declined by 0.56%, 0.69% and 1.29%, In the Arab world, the bourses of Morocco, UAE and Egypt increased by 2.21%, 0.79% and 0.48% respectively, while the bourse of Bahrain witnessed a decrease by 0.94%.
On the London Stock Exchange, the GDR shares of BLOM Bank declined by 1.01% over the week, to stand at $9.85 while the GDR shares of Bank Audi recorded an uptick of 0.41% to reach $4.90.
On the Beirut Stock Exchange (BSE), the Banking sector grasped 55.25% of the total trading value, while the real estate sector captured the remaining 44.75%.
During the last week, BLOM Bank listed shares and Byblos Bank listed shares increased by 0.54% and 0.71% to reach $9.30 and $1.41, respectively. Moreover, the GDR shares of BLOM Bank declined by a weekly 1.50% to stand at $9.85.
As for the BLOM Preferred shares Index (BPSI), it didn’t record any change thereby ending the week at 86.75 points.
In the real estate sector, Solidere A and B shares witnessed decreases of 4.95% and 3.98% to stand at $6.33 and $6.28, respectively noting that Solidere A stood at $6.14 on Monday.
The political issue around the government formation is still contributing to the subdued activity on the BSE. In fact, this is reflected by the weekly drop of 61.42% and 83.26% in the average traded volume and value noting that the industrial and retail sectors’ shares didn’t witness any trade.