Limited Improvement In The BSE This Week Amid The Decline in Solidere Shares

The BLOM Stock Index (BSI) recorded a slight improvement of 0.58% to stand at 959.99 points, by the week ending March 22 2019. Also, the market capitalization rose from last week’s $9.31B to $9.36B  this week.

In details, an average of 51,821 shares worth $143,888 was traded this week, compared to an average of 22,813 shares worth $181,088 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 gains of 1.70%, 1.70%, and 2.05%, respectively.

In the Arab World, the bourses of Abu Dhabi, Saudi Arabia and Bahrain were the week’s top gainers adding 2.60%, 1.47% and 1.20% respectively. Meanwhile, the stock markets of Egypt, Tunisia, and Qatar were the biggest losers, registering the respective declines of 1.39%, 1.08%, and 0.17% by the week ending March 22.

On the Beirut Stock Exchange (BSE), the Banking sector grasped 70.50% of the total trading value over the week while the real estate sector and the industrial sector captured the remaining shares of 23.56% and 5.94% of total trading activity.

In the banking sector, BLOM Bank’s listed shares, BLOM GDR shares registered weekly gains of 3.49% and 3.62% to $9.20 and $9.45 respectively .Meanwhile, the GDR shares of Bank Audi slightly dropped by 0.40% to $4.98.

However, On the London Stock Exchange, BLOM GDR shares and Bank Audi GDR shares recorded an increase of 3.30 % and 3.00% during the same period to stand at $9.40 and $5.15 respectively.

As for the BLOM Preferred shares Index (BPSI), it dropped slightly by 0.69%, closing the week at 86.48 points on the back of the drop in  Byblos Preferred 09 by 6.37% to $72.

In the real estate sector, Solidere A and B shares fell by 3.13% and 0.66% to stand at $5.88 and $5.98, respectively.

In fact, despite the political improvement, the values of Solidere stocks recorded this week their lowest values since October 2018.

As for the Industrial sector, the shares of Ciment Blancs(N) dropped by 5.09% to $2.61.

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