The BLOM Stock Index (BSI) gained 2.43% to end the week ending December 27th at 782.61 points.. Accordingly, The BSE’s market capitalization rose from $7.45B last week to $7.65B, this week. In fact, an average of 83,499 shares worth $573,529 was traded during this week compared to 24,201 shares worth $198,998 last week.
Meanwhile, the regional equity indices climbed over the week, with the S&P Pan Arab Composite Large Mid Cap Index increasing by 0.62%, while the S&P AFE 40 climbed by a weekly 0.18% and in its turn, the MSCI Emerging Markets Index climbed by a weekly 0.49%.
Regionally, the week’s largest gainers were Tunisia and Bahrain bourses which respectively rose by 1.14% and 1.26%. Meanwhile, the biggest losers of the week were the financial markets of Abu Dhabi, and Dubai which respectively lost 0.82% and 0.13% respectively over the past week.
On the Beirut Stock Exchange (BSE), the real estate (RE) sector continued to grasp the largest stake of the total traded value by constituting a share of 100% this week.
In details, share prices of Solidere A and B jumped by a substantial 18.38% and 18.36% to close at $7.15 and $7.09, respectively, by the week ending Dec. 27. Worth mentioning on Thursday that Solidere A closed on the highest price since the start of the year at 7.25$ .
Meanwhile, the BLOM Preferred Stock Index (BPSI) didn’t witnessed any weekly change and remained the same at 75.12 points
On the London Stock Exchange, BLOM GDR shares fell by 3.95% to close at $1.70, while Audi and Byblos GDR shares remained unchanged to close at $1.50 and $70.
The current economic uncertainty has triggered wealthy investors to diversify risk and invest in the real estate sector. This move is expected to support more the prices of Solidere A and B.