Solidaire brings up BLOM Stock Index to 755.99 points

Solidaire brings up BLOM Stock Index to 755.99 points

The BLOM Stock Index (BSI) compiled by BLOMInvest Bank on a daily basis increased by 6.44% since March 05, 2021 to reach 755.99 on March 12,2021. The Market capitalization on the Beirut Stock Exchange (BSE) increased from $7.28B to $7.75B on March 12, 2021. Moreover, the average volume and value of trades this week totaled 84,373 shares worth $1,088,775, compared to 50,756 worth $432,403, during the week ending March 12, 2021.

Regionally, the major Arab markets witnessed better performance this week. In details, the S&P AFE 40 Composite index and the S&P Pan Arab index increased weekly by 2.83% and 2.80%, respectively, while the MSCI slightly went up by 0.84%. In the Arab World, the bourses of Saudi Arabia, Qatar and Kuwait were the top gainers this week, the first increased 2.86%, and the second went up by 1.80, while the third added 1.19%. In contrast, the bourse of Egypt and UAE Abu Dhabi were the worst performers for this week declining by 1.34% and 1.10%, respectively.

As for Saudi Arabia, on March 10, talks between Russia’s Foreign Minister Sergey Lavrov’s and Foreign Minister of Saudi Arabia Faisal bin Farhan Al Saud, concluded on the bright side as they committed to working together and strengthening cooperation on the international hydrocarbon markets.

Moreover, Qatar Petroleum signed a multi-party agreement with LNT Marine, the American Bureau of Shipping (ABS), and (SWS) to utilize innovative technologies and collaborate on the development of new medium and large liquefied natural gas (LNG) carrier designs.

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 95.64%, while the banking and the industrial sectors grasped the rest of shares of 3.81% and 0.55%, respectively. The most noteworthy trades throughout the mentioned period included:

  • BLOM GDR shares decreased by 81% to $2.44/share
  • BLOM Listed shares soared by 19.82% to $2.66/share
  • AUDI GDR shares climbed by 20% to $1.44/share
  • AUDI Listed shares increased by 4.22% to $1.73/share
  • Byblos Listed went up by 11.11% to $0.60/share
  • Solidaire (A) shares added 9.14% to $21.50/share
  • Solidaire (B) shares rose by 8.79% to $21.53/share
  • HOLCIM Liban retreated by 7.25% to $13.82/share

As for the BLOM Preferred Shares Index (BPSI), it remained unchanged this week at 46.06 points.

This week, the BLOM Stock Index (BSI) had an agitated ride, all on the back of the real estate stock. Not surprisingly, Solidere continued to be the most actively traded stock on the bourse of Beirut and acting as a barometer to the economic confidence in a turmoil country. Many are surviving in the hope of forming a new cabinet that will provide some stability to the country.

Leave a Reply

Your email address will not be published. Required fields are marked *