|BLOM Stock Index|| 694.10|| 677.53||2.45%|
|Average Traded Volume|| 45,608|| 1,533,905||-97.03%|
|Average Traded Value|| 732,872|| 3,344,518||-78.09%|
The BLOM Stock Index (BSI) compiled by BLOMInvest Bank on a daily basis increased by 2.45% since February 19, 2021 to reach 694,10. The Market capitalization on the Beirut Stock Exchange (BSE) slightly decreased from $6.94B to $7.11B on February 26, 2021. Moreover, the average volume and value of trades this week totaled 45,608 worth $732,872, compared to 1,533,905 shares worth $3,344,518, during the week ending February 19, 2021.
Regionally, the major Arab markets witnessed somewhat a worsening performance this week. In details, the S&P AFE 40 Composite index increased weekly by 1.01%, while the S&P Pan Arab index and the MSCI retreated by 0.25% and 1.31%, respectively. In the Arab World, the bourses of Egypt and Saudi Arabia were the top gainers this week, the first increased 1.71%, and the second went up by 1.14%.
Meanwhile, the bourses of Morocco, Abu Dhabi, and Qatar were the worst performers this week declining by 2.37%, 2.23%, and 1.98%, respectively.
On the Beirut Stock Exchange (BSE), the real estate sector grasped the lion’s share of the BSE’s trading value with a stake of 97.09%, while the banking sector grasped the rest of shares of 2.91%. The most noteworthy trades throughout the mentioned period included:
- BLOM GDR shares retreated by 33% to $2.15/share
- AUDI Listed shares went up by 12.59% to $1.52/share
- Byblos Listed increased by 3.92% to $0.53/share
- Solidaire (A) shares added 3.79% to $19.98/share
- Solidaire (B) shares went down by 0.16% to $19.16/share
As for the BLOM Preferred Shares Index (BPSI), it remained unchanged this week at 46.06 points.
This week, The Lebanese Stock Exchange observed a minor activity amid the continuing difficulties facing the Lebanese banking sector. Lebanon’s dollar supply has been hit by a currency crisis and reached the 9,700 LBP for the USD while the restrictions of the lockdown are being gradually relieved this week. In turn, signs of forming a government are still at a low probability where the designate PM Hariri is still facing difficulties with forming a new cabinet. However, the absence of structural reforms will further threaten the country’s economic conditions and food security with its adverse effect on the capital markets.