The BSI up by 2.32% to 710.23 driven by banking and real estate traded stocks

The BLOM Stock Index (BSI) compiled by BLOMInvest Bank on a daily basis increased by 2.32% since February 26, 2021 to reach 710.23 on March 05,2021. The Market capitalization on the Beirut Stock Exchange (BSE) increased from $7.11B to $7.28B on March 05, 2021. Moreover, the average volume and value of trades this week totaled 50,756 worth $432,403, compared to 45,608 shares worth $732,872, during the week ending March 05, 2021.

Regionally, the major Arab markets witnessed somewhat a worsening performance this week. In details, the S&P Pan Arab Composite index increased weekly by 1.63%, while the S&P AFE 40 index and the MSCI retreated by 0.14% and 4.28%, respectively. In the Arab World, the bourses of UAE, Saudi Arabia and Tunisia were the top gainers this week, the first increased 2.45%, and the second went up by 1.39, while the third added 0.50%.

In contract, the bourse of Egypt was the worst performer this week declining by 0.89%.

On the Beirut Stock Exchange (BSE), the banking sector grasped the lion’s share of the BSE’s trading value with a stake of 58.19%, while the real estate and the industrial sector grasped the rest of shares of 41.21% and 0.60%, respectively. The most noteworthy trades throughout the mentioned period included:

• BLOM GDR shares soared by 42% to $2.46/share
• BLOM Listed shares added 0.91% to $2.22/share
• AUDI Listed shares increased by 9.21% to $1.66/share
• Byblos Listed went up by 1.89% to $0.54/share
• Solidaire (A) shares decreased by 1.40% to $19.70/share
• Solidaire (B) shares added 3.29% to $19.79/share
• HOLCIM Liban increased by 14.62% to $14.90/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 various traded transactions. While the restrictions of the lockdown are being gradually relieved, and with the vaccination campaign underway since mid-February, the PMI improved fractionally to 42.2 in the previous month. In details, this indicator reflects a tiny softening in the overall business environment. However, protesters have been in the street since Tuesday due to the deadlocked political situation urging the fast formation of the new Cabinet to unlock the international aids and start with the necessary reforms. Until then, capital markets will not see major improvements.