BLOM Stock Index Reached 892.12 Points

The BLOM Stock Index (BSI) compiled by BLOMInvest Bank on a daily basis slightly increased by 0.20% from last week to reach 894.23 on June 11, 2021. The Market capitalization on the Beirut Stock Exchange (BSE) decreased from $9.23B to $9.16B on June 11, 2021. Moreover, the average volume and value of trades during the week ending June 11, 2021 totaled 60,219 shares worth $1,118,712 compared to 76,273 worth $1,037,262 during last week.

Regionally, the major Arab markets witnessed an oscillated performance this week. In details, the S&P AFE 40 and S&P Pan Arab index, increased weekly by 0.41%, and 0.62%, respectively. Meanwhile, the MSCI index decreased by 0.34% compared to last week. In the Arab World, the bourses of UAE, KSA and Bahrain were the top gainers this week, and they witnessed an increase of 1.36%, 1.31% and 1.57% respectively.

 In contrast, the bourse of Egypt and Qatar were the worst performers for this week declining by 1.41% and 0.76%, 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 95.43%, while the banking grasped the rest with a stake of 3.93%. The most noteworthy trades throughout the mentioned period included:

• Blom (GDR) shares went down by 0.30% to $3.28/share
• Blom Listed shares increased by 6.96% to $3.38/share
• Audi (GDR) shares increased by 3.98% to $2.09/share
• Audi Pref H shares went up by 5.87% to $74.00/share
• Solidere (A) shares decreased by 0.32% to $24.92/share
• Solidere (B) shares increased by 0.40% to $24.93/share
• Holcim Liban shares went down by 10% to $18.01/share

As for the BLOM Preferred Shares Index (BPSI), it ticked up to 45.93 points by the end of this week.

The Lebanese economic crisis is threatening the social security of most of the Lebanese people. The Lebanese are suffering to secure their basic needs like gas and medicine amid the talks about lifting the subsidies on all essential goods. Meanwhile the BSE is not showing the full reality of what is really happening on the Lebanese market, as it doesn’t reflect the real image of the situation. Unfortunately, a more reliable source that can reflect the true image of the economic and monetary situation in Lebanon is the Lebanese exchange rate on the black market. This week the price has hit LBP15000/$ which is eroding further the Lebanese purchasing power.