The BLOM Stock Index (BSI) compiled by BLOMInvest Bank on a daily basis slightly decreased by 0.55% from last week to reach 883.16 on June 25, 2021. The Market capitalization on the Beirut Stock Exchange (BSE) decreased from $9.10B to $9.05B on June 25, 2021. Moreover, the average volume and value of trades during the week ending June 25, 2021 totaled 71,983 shares worth $606,411 compared to 50,557 shares worth $700,181 during last week.
Regionally, the major Arab markets witnessed a wobbled performance this week. In details, the S&P AFE 40 and S&P Pan Arab index, decreased weekly by 0.54%, and 0.46%, respectively. Meanwhile, the MSCI index increased by 0.33% compared to last week. In the Arab World, the bourses of Egypt, Kuwait, and Bahrain were the top gainers this week, and they witnessed an increase of 3.76%, 1.42% and 1.04% respectively. In contrast, the bourse of UAE Abu Dhabi and Tunisia were the worst performers for this week declining by 1.61% and 0.35%, respectively.
This week, the headlines in the Arab market were headed by the potential announcement of the UAE goal regarding the adoption of a net zero emissions of CO2 by 2050. In turn, the country will be the first OPEC nation to announce this target among major petro-States; in addition it could pressure other world’s largest oil exporter Saudi Arabia by pledging such target.
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 79.21%, while the banking and industrial sectors grasped the rest with a stake of 15.43% and 5.35, respectively. The most noteworthy trades throughout the mentioned period included:
As for the BLOM Preferred Shares Index (BPSI), it decreased from 45.93 to 45.02 points by the end of this week.
This week on Beirut Stock Exchange (BSE), Solidere stocks continue to dominate local financial investment with a significant trade for the banking sector stocks. However, BLOM Stock Index mirrored the extension of the pessimistic expectations following the political deadlock that has been occurring for more than a year. In turn, the bourse in Lebanon strives to maintain a positive performance overall in light of the financial and economic crises.