BLOM Stock Index Plunges this Week

The BLOM Stock Index (BSI) declined over the week ending Aug 09 by 0.42% to 814.40 points noting that on Thursday the index stood at 809.21. In addition, the market capitalization recorded a weekly drop of 0.42% to $7.94B. As for the Average traded volume of listed shares, it slumped weekly by 58.53% to stand at 46,919 shares while the Average traded value also retreated by 44.29% over the week to $246,912.

Regionally, all main indices slumped, with the MSCI Emerging Markets Index losing a weekly 3.93%, while the S&P Pan Arab Composite Large Mid Cap and the S&P AFE 40 registered weekly downticks of 1.79% and 2.49%. In fact, global equity markets were affected by the escalated trade war between the US and China leading to an important sell off during the week

In turn, the week’s top gainers were the bourses of Egypt and Tunisia ending the week with upticks of 4.84%, 0.21%. Meanwhile, the bourses of Qatar and Abu Dhabi recorded weekly downticks of 5.41% and 2.54%.

On the Beirut Stock Exchange (BSE) this week, the banking sector grasped the lion’s share or 72.80% of the total trading value, while the real estate and industrial sector grasped the remaining share of 25.16% and 2.04% of the total, respectively.

In the banking sector, Audi and Byblos Bank listed shares fell by 0.26% and 3.39% to reach $3.79 and $1.14, respectively. BLOM GDR shares also dipped by 2.70% to stand at $7.20. Meanwhile, BLOM Listed shares recorded weekly upticks of 0.27% to $7.32.

As for the Blom Preferred shares Index (BPSI), it recorded no weekly change to stand at 85.55points.

On the London Stock Exchange, BLOM GDR shares retreated from $7.30 to $7.20.

In the real estate sector, Solidere A and B shares recorded weekly upticks of 1.92% and 0.16% to reach $6.36 and $6.23, respectively. Meanwhile, shares of each of HOLCIM and Ciment Blancs retreated by a weekly 3.66% and 12.75% to $9.75 to $2.60, respectively

The activity on the Lebanese bourse continued to be subdued given the domestic political tensions and Cabinet sessions’ paralysis without being able to  implement the measures in the 2019 budget.

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