Solidere Shares are the Only Explainable Stocks on The BSI

 28/05/202121/5/2021% Change
BLOM Stock Index           894.93            911.49-1.82%
Average Traded Volume         113,133          128,239-11.78%
Average Traded Value      1,613,155       2,074,824-22.25%


The BLOM Stock Index (BSI) compiled by BLOMInvest Bank on a daily basis slightly decreased by 1.82% from last week to reach 894.93 on May 28, 2021. The Market capitalization on the Beirut Stock Exchange (BSE) decreased from $9.34B to $9.17B on May 28, 2021. Moreover, the average volume and value of trades during the week ending May 28, 2021 totaled 113,133 shares worth $1,613,155 compared to 128,239 worth $2,074,824 during last week.

Regionally, the major Arab markets witnessed better 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 1.88%, 1% and 0.70%,respectively. In the Arab World, the bourses of UAE Abu Dhabi, KSA and Qatar were the top gainers this week, the first jumped by 2.38%, and the second went up by 1.74%, while the third added 0.65%. In contrast, the bourse of Egypt and Kuwait were the worst performers for this week declining by 4.56% and 1.45%, 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 94.56%, while the banking grasped the rest with a stake of 5.26%. The most noteworthy trades throughout the mentioned period included:

  • BLOM listed shares went down by 9.46% to $3.16/share
  • Audi (GDR) shares went down by 1.48% to $2/share
  • Audi Listed shares decreased by 1.26% to $2.35/share
  • Byblos shares decreased by 6.86% to $0.95/share
  • Solidere (A) shares retreated by 0.60% to $24.91/share
  • Solidere (B) shares decreased by 0.28% to $24.94/share
  • Holcim Liban shares went down by 5.24% to $17/share

As for the BLOM Preferred Shares Index (BPSI), it remained stable at 45.63 points by the end of this week.

Solidere A and Solidere B are the only stocks that reflect the reality of stock market on the BSI.  While the evolutions of their prices are explainable through fundamental analysis as the real estate market was doing fine lately, however  other stocks like banking sector shares witnessed oscillating changes in volume and prices, that unfortunately  cannot be explained by fundamentals.

Leave a Reply

Your email address will not be published.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