|BLOM Stock Index|| 961.996|| 903.72||6.45%|
|Average Traded Volume|| 114,816|| 14,652||683.62%|
|Average Traded Value|| 1,727,721|| 364,316||374.24%|
The BLOM Stock Index (BSI) compiled by BLOMInvest Bank on a daily basis soared by 6.45% from last week to reach 961.996 on July 30, 2021. The Market capitalization on the Beirut Stock Exchange (BSE) increased from $9.26B to $9.86B on July 30, 2021. Moreover, the average volume and value of trades during the week ending July 30, 2021 totaled 114,816 shares worth $1,727,721 compared to 14,652 shares worth $364,316 during last week.
This week, talks about forming a new government are taking over the headlines after the Leading businessman Najib Mikati has been designated to form a viable government. In fact, the country would have a chance today in tackling crippling socio-financial crises; however next week seems to be crucial for Lebanese people as the first anniversary of the horrific Beirut Port Blast approaches.
Regionally, the major Arab markets witnessed a better performance this week. In details, the S&P Pan Arab and S&P AFE 40 index, increased weekly by 2.23%, and 2.02%, respectively. Meanwhile, the MSCI index slumped by 3.94% compared to last week. In the Arab World, the bourse of UAE, Kuwait and Saudi Arabia were the top gainers this week, and witnessed an increase of 3.58%, 3.33% and 1.72%, respectively, compared to last week. In contrast, the bourse of Tunisia was the worst performers for this week slightly declining by 0.05% compared to last week.
In details, Tunisia has been facing a deep economic crisis and political paralysis for years. However, the situation worsened with the pandemic pushing the Tunisians to the streets what made the president turning into power politics to take control. Concerning the Gulf countries, dissatisfaction between the UAE and Saudi Arabia over increasing oil production caused an increase in oil prices to more than six year high.
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 95.29%, while the banking grasped a stake of 4.26% and the industrial sector grasped a stake of 0.45%. The most noteworthy trades throughout the mentioned period included:
- BLOM GDR shares added 1.59% to $3.20/share
- BLOM shares retreated by 3.90% to $3.20/share
- Audi GDR shares contracted by 6.19% to $1.97/share
- Audi shares increased by 0.47% to $2.12/share
- Byblos (C) shares went up by 3.13% to $0.99/share
- Solidere (A) shares soared by 12.92% to $29.37/share
- Solidere (B) shares jumped 14.43% to $29.74/share
- Holcim shares added 9.98% to $19.50/share
As for the BLOM Preferred Shares Index (BPSI), it remained stable at 45.57 points by the end of this week.
This week, Solidere stock prices jumped to an all-time high new record. The Real Estate Company has been registering a positive performance since the beginning of the economic crisis in the country. Demand for its stock in still driven, first by the improving of the company’s fundamentals, and second by the Lebanese rushing to secure a way out for their locked deposits at the banks and investing in instruments backed by real assets.