The BSI witnessed a Correction this Week  


The BLOM Stock Index (BSI) gained 3.53% to end the week ending May 24 at 869.25 points. Accordingly, the market capitalization rose from last week’s $8.18B to $8.47B this week. Meanwhile, the average traded volume and value of listed shares went from 117,595 shares worth $880,738   last week to 172,150 shares worth $765,260 this week.

The regional indices registered weekly downturns with the S&P Pan Arab Composite Large Mid Cap, the S&P AFE 40, as well as the MSCI Emerging Markets Index retreating by 0.76%, 0.79% and 2.60% over the past week.

In the Arab World, the stock markets of Saudi Arabia, Qatar and Kuwait fell by 1.05%, 1.39%, and 1.73%, respectively. However, the Egyptian bourse witnessed a 0.86% weekly increase.

On the Beirut Stock Exchange (BSE), the banking sector accounted for 80% of the total traded value, while the real estate and manufacturing sectors grasped the remaining shares of 19.2% and 0.8%, respectively.

In details, BLOM Bank’s GDR and Listed shares rose by a weekly 2.67% and 6.88% to stand at $7.70 and $8.55, respectively. Moreover, Bank Audi GDR and Listed shares increased by a weekly 1.26% and 7.5% to reach $4.02 and $4.30, respectively. Byblos Listed shares also witnessed a weekly improvement of 4.07% to $1.28.

As for the BLOM Preferred shares Index (BPSI), it slid by 0.15% to 85.01 points, owing it to a weekly 2.12% decline in the price of Bank Audi Preferred H shares, to $83.

On the London Stock Exchange, BLOM GDR shares fell by a weekly 1.28% to $7.70.

In the real estate sector, both Solidere A and B rose by a weekly 3.38% and 9.63% to $5.20 and $5.35, respectively.

As for the manufacturing sector, HOLCIM shares fell by a weekly 3.38% to stand at $14.01.

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