Activity on BSE Remains Subdued: Investors Await 2020 Budget meetings & Renewed Promises on Urgent Reforms  

The BLOM Stock Index (BSI) declined by a marginal 0.32% to end the week on Sept.06^th  at 794.22 points. It followed that the Market capitalization retreated from $7.73B on Aug 30^th to stand at $7.70B this week. Meanwhile, the average traded Volume of listed shares rose from 40,027 shares last week to 106,389 shares this week. Correspondingly, the average traded Value also climbed from $360,934 to $508,259 this week.

Regionally, the MSCI Emerging Markets equity Index and the S&P Pan Arab Composite Large Mid Cap added weekly 3.39% and 0.07%, respectively, while the S&P AFE 40 regional equity index slipped by a weekly 0.11%. 

Among the regional equity bourses, the top gainers of this week were the bourses of Egypt, Bahrain, and Dubai which registered the respective upticks of 0.62%, 0.58%, and 0.38%. Meanwhile, the top losers were the bourses of Qatar and Abu Dhabi which fell by the respective weekly rates of 0.41% and 0.21%.

The banking sector grasped the majority of total values of shares traded on the Beirut Stock Exchange (BSE) this week, with a stake of 83.65% of the total trading value while the Real estate (RE) grasped 16.35% of the total, respectively.

In details, the listed shares of BLOM, Audi, and Byblos Bank lost a weekly 0.27%, 1.62%, and 2.61% to reach $7.28, $3.64, and $1.12, respectively. In addition, BLOM GDR shares slipped by 0.14% over the week to settle at $7.08. Meanwhile, Audi GDR shares added a weekly 0.27% to $3.70 by the week ending Sept. 06^th 2019.

In the real estate sector, Solidere A shares grew by a weekly 4.56% while Solidere B shares slumped by 1.55% to settle at $5.96 and $5.71, respectively.

On the London Stock Exchange, no price changes were witnessed, with BLOM, Audi, and Byblos GDR shares settling at last week’s $6.95, $3.70, and $77, respectively.

Similarly, the Blom Preferred shares Index (BPSI) witnessed no change and stood at last week’s 80.07 points.

The performance of the BSE will mainly be determined by the outcome of next week’s Cabinet session to study the 2020 budget, while investors in their turn monitor the developments on the government’s renewed promises to adopt severe, urgent reforms in the next 6 months to get the country “back on track”.