The BLOM Stock Index (BSI) regressed by a weekly 0.78% to reach 938.07 points, by the week ending February 22. As such, the market capitalization fell from last week’s $9.21B to $9.14B, this week.
In fact, trading activity fell on the Beirut Stock Exchange (BSE) such that an average of 234,827 shares worth $386,353 were traded this week, compared to an average of 292,929 shares worth $1.50M traded in the previous week.
Regionally, the S&P AFE 40, the S&P Pan Arab Composite Large Mid Cap, and the MSCI Emerging Markets Index registered weekly rises of 0.99%, 0.4%, and 1.14%, respectively.
In the Arab World, the Dubai and Bahraini bourses witnessed a correction during this week’s performance, where both registered respective rises of 5.66% and 2.24%. Meanwhile, the Saudi TASI recorded a weekly decline of 0.81%.
On the Beirut Stock Exchange (BSE), the banking sector grasped 76.37% of the total trading value over the week, while the real estate and manufacturing sectors acquired the remaining shares of 22.61% and 1.02%.
In the real estate sector, Solidere A and B shares witnessed plunged this week. In fact, both stocks registered significant losses, with Solidere A shares falling by 7.28% to $5.99 and Solidere B shares decreasing by 7.88% to $5.96
In the banking sector, BLOM Bank’s GDR shares and Bank Byblos Listed shares registered weekly losses of 2.07% and 0.74% to stand at $8.97 and $1.34, respectively. Meanwhile, Bank Audi GDR shares and BLOM Bank listed shares recorded respective gains of 2.74% and 0.67% to $4.88 and $9.
In the manufacturing sector, Ciments Blancs nominal shares rose by from $2.55 to $3.50.
As for the BLOM Preferred Shares Index (BPSI), it fell by 0.5% to 85.94 points. In details, Bank Audi Preferred I shares fell by a weekly 5.56% to $84.90, while Bank Audi Preferred H shares rose by 8.05% to $94.