|BLOM Stock Index||889.75||880.00||1.11%|
|Average Traded Volume||89,962||187,695||-52.07%|
|Average Traded Value||1,778,819||4,008,623||-55.63%|
The BLOM Stock Index (BSI) compiled by BLOMInvest Bank on a daily basis increased by 1.11% since April 1, 2021 to reach 889.75 on April 9,2021. The Market capitalization on the Beirut Stock Exchange (BSE) increased from $9.02B to $9.12B on April 9, 2021. Moreover, the average volume and value of trades during the week ending April 9, 2021 totaled 89,962 shares worth $1,778,819, compared to 187,695 worth $4,008,623 during last week.
Regionally, the major Arab markets witnessed improving performance this week. In details, the MSCI index, the S&P Pan Arab index, and the S&P AFE 40 Composite index all increased weekly by 0.61%, 0.81% and 0.12%, respectively. In the Arab World, the bourse of Kuwait and UAE were the top gainers this week, both increased by 2.09% and 1.98%. In contrast, the bourse of Egypt were the worst performers for this week declining by 2.47%. Moreover, in Kuwait, as tensions heightened over the cabinet appointments in March, a new cabinet was formed and is set to ease the mounting crisis and place the needed reforms in action. Also, the UAE leaders announced that the Emirates’ first nuclear power plant started its commercial operations on Tuesday; adding that Baraka nuclear power plant in Abu Dhabi will constitute part of the oil producing state’s efforts to diversify its energy mix.
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 97.42%, while the banking grasped 2.58%. The most noteworthy trades throughout the mentioned period included:
As for the BLOM Preferred Shares Index (BPSI), it remained unchanged this week at 45.22 points.
Beirut Stock Exchange (BSI) had observed an uptick amid the large trades on Solidere “A” and “B” stocks this week. The real estate sector, was a winner as reflected in the trades of Solidere “A” and “B” shares with the increase in the price of Solidere “A” week-on-week to $24.05 and that of Solidere “B” to $24.50.
Moreover, it is worth mentioning that BLOM Lebanon PMI of March was higher than February, standing at 46.4, yet it confirms a negative outlook for the country and its stock market, reflecting the severe declines in income, production and business expectations.