BSI Down this Week as Political Deadlock Persists

The BLOM Stock Index (BSI) fell by 1.50% to reach 957.53 points over the last week. The market capitalization decreased from $9.47B last week to $9.33B to this week.

On average 291,418 of shares worth $508,387 were traded on the Beirut Stock Exchange (BSE) this week, compared to 2.37M shares worth $11.61 last week.

Regionally, during the past week, each of the S&P AFE 40, the S&P Pan Arab Composite Large Mid Cap Index and the MSCI Emerging Markets Index rose by 1.73%, 1.87% and 0.79%, respectively.

In the Arab World, all bourses except for the Lebanese market registered a weekly gain. In details, the bourses of KSA, Qatar and Abu Dhabi were this week’s top gainers adding 4.99%, 2.8% and 1.06% respectively.

On the London Stock Exchange, the GDR shares of BLOM Bank fell by a weekly 1.09% to $9.10, while Audi Bank witnessed a weekly rise of 2.16% to stand at $4.72.

On the Beirut Stock Exchange (BSE), the banking sector grasped 59.70% of the total trading value, while the real estate sector captured the remaining 40.30%.

In the Banking Sector, during the last week, BLOM Bank listed shares and BLOM Bank GDR shares fell by 0.11% and 2.13% to reach $9.25 and $9.20. Moreover, Byblos Bank listed shares and Audi GDR shares declined by a weekly 0.74% and 3.90% to stand at $1.35 and $4.68.

As for the Blom Preferred shares Index (BPSI), it didn’t record any weekly change and stood at 86.39 points.

In the real estate sector, Solidere A and B shares fell by 9.31% and 7.65% and to stand at $6.14 and $6.28 respectively.

The performance of the Lebanese bourse could witness a slight improvement depending on the outcome of the Economic Arab League Summit.  However, the failure to form a government imminently will drag the BLOM Stock Index (BSI) lower.



Leave a Reply

Your email address will not be published.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