Banks’Shares Govern Trading Activity on BSE this week

The BLOM Stock Index (BSI) recorded a weekly decline of 1.47% to 782.14 points by October 4, 2019. The market capitalization over the week dropped from $7.76B on September 27 to $7.64B this week. Meanwhile, the average traded volume of listed shares grew from last week’s 32,409 shares to 904,329 shares this week. Correspondingly, the average traded value rose to $6.46M, up from last week’s $232,860

Regionally, the S&P Pan Arab Composite Large MidCap Index, the MSCI Emerging Markets Index, and the S&P AFE40 all registered weekly declines of 1.59%, 1.69% and 1.62%, respectively.

The region’s top gainer this week was the bourse of Egypt which registered the respective upticks of 4.58%. Nonetheless, the biggest losers over the week were those of Abu Dhabi, KSA and UAE, as they respectively fell by the respective weekly rates of 1.19%,1.36% and 1.47%, respectively,

On the Beirut Stock Exchange (BSE), the banking sector accounted for almost the majority of the traded value with a share of 98.62% with one large trade worth $36M executed on BLOM Bank’s listed shares.  The real estate sector accounted for the remaining share of 1.38%.

In the banking sector, the traded shares closed the week in red, in details, BLOM listed shares and BLOM GDR shares dropped by 2.86% and 0.14% to end the week at $6.80 and $7.29, respectively. Moreover, Audi GDR shares and Byblos Listed Share also retreated by a weekly 2.70% and 0.90% to reach $3.60 and $1.70, respectively.

On the London Stock Exchange, BLOM GDR shares and GDR shares of Bank Audi declined by weekly 3.60% and 8.38% to $6.60 and $3.50.

As for the Blom Preferred shares Index (BPSI), it remains the same at 80.41 points.

In the real estate sector, Solidere A and B shares recorded a weekly drop by 2.94% and 9.15% to stand at $5.62 and $5.26, respectively.



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