The BLOM Stock Index (BSI) rose over the week ending July 19th by 0.65% to 846.90 points. Accordingly, the market capitalization grew from $8.20B to $8.25B in the past week. As such, the Average traded volume of listed shares went from 48,168 shares to 50,119 shares this week, with the Average traded value of shares increasing from last week’s $241,080 to $352,738 this week.
Regionally, the MSCI Emerging Markets Index recorded a weekly downtick of 0.33%. However, the S&P Pan Arab Composite Large Mid Cap and the S&P AFE 40 registered upticks by 0.48% and 0.22% over the week.
In turn, the bourses of Abu Dhabi, Dubai, Morocco and Saudi Arabia were top gainers, as they ended the week adding 3.81%, 2.82%, and 2.04%, and 1.44%, respectively. Meanwhile, the bourses of Egypt and Qatar recorded weekly down ticks of 2.44% and 0.46%, respectively.
On the Beirut Stock Exchange (BSE), the real estate sector accounted for most of the trading this week, grasping 83.77% of the total traded value, while the banking and the industrial sectors grasped the remaining shares of 15.97% and 0.26%, respectively.
In details, Blom Bank’s GDR shares and Audi Bank listed shares added 0.13% and 0.26%, to end the week at $7.59 and $3.86, respectively.
In the real estate sector, Solidere A and B shares recovered, adding 10.27% and 6.39% to $6.55 and $6.49, respectively. While in the industrial sector, shares of HOLCIM retreated by a weekly 11.27% to $11.50
As for the BLOM Preferred shares Index (BPSI), it slipped by 0.70% to 82.34 points, on the back of weekly respective declines in the following shares:
- 67% decrease in shares of Audi Preferred “H”to $73.00
- 80% decline in the price of Bank Byblos Preferred 08 shares, to $65.00
On the London stock exchange, BLOM GDR shares fell by a weekly 1.33% to $7.40
Trading activity on the BSE remained cautious this week amid the ongoing parliament sessions and the opposition faced to endorse the 2019 draft budget. The performance of the BSE will largely depend on next week’s scheduled cabinet session and developments on the endorsement of the budget.