Banks’ Shares Govern Trading Activity on BSE this week

 The BLOM Stock Index (BSI) recorded a weekly downtick of 0.5% to 789.58 points by Sept. 20th 2019. The ensuing market capitalization over the week fell from $7.76B on September 13th to $7.72B this week. Meanwhile, the average traded volume of listed shares grew from last week’s 83,854 shares to 202,360 shares this week. Correspondingly, the average traded value climbed to $3.13M, up from last week’s $327,757.

Regionally, activity on some of the major indices remained shy, such that the MSCI Emerging Markets equity Index slipped by 0.56% over the week. Similarly, the S&P AFE40 lost a weekly 0.02%. However, the S&P Pan Arab Composite Large Mid Cap equity index added 0.29% over the week ending Sept. 20th.

The region’s top gainers this week were the bourses of Qatar and Abu Dhabi which registered the respective upticks of 0.59% and 0.11%. Nonetheless, the biggest losers over the week were those of Bahrain, Dubai, and Egypt, as they respectively fell by the respective weekly rates of 3.3%, 2.3%, and 1.8%.

On the Beirut stock exchange (BSE), banks grasped the lion’s share of the total trading activity, given they grasped 98.55% of the total trading value while the Real estate (RE) and industrial sectors grasped the respective stakes of 1.41% and 0.04% of the total trading value.

In details, activity on the BSE retreated this week largely owing to the downticks in the listed real estate shares, Solidere “A” and “B” shares which slid by 4.37% and 10.85%, respectively to $5.47 and $5.34 over the week. In addition, the Banks’ shares recorded the following downticks over the week:

v  BLOM GDR shares lost a weekly 0.14% to $7.07

v  Byblos Bank Listed shares declined by 0.90% to $1.10

Meanwhile, Audi Bank’s Listed shares added a weekly 1.37% to $3.70.  

On the industrial sector, HOLCIM shares climbed by 5.05% to $9.98 over the week.

As for the Blom Preferred shares Index (BPSI), it increased by a weekly 0.8% to close the week at 80.71 points, owing it largely to the 9.59% uptick in the price of Audi Preferred “H” shares.

On the London Stock Exchange, no changes were recorded such that the BLOM, Audi, and Byblos GDR shares stood at last week’s $6.85, $3.76 and $70, respectively, by Sept. 20th.  

Trading activity on the BSE in the upcoming weeks will largely depend on the official statements and scheduled meetings between Lebanese officials and the international community, namely the KSA and France who were among the first to initiate support to the country via a readiness to contribute to some of CEDRE’s investments at-hand.

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