BSE Increased as Talks with IMF Started

22/10/20218/10/2021% Change
BLOM Stock Index      1,000.974          996.6700.43%
Average Traded Volume         109,539            47,821129.06%
Average Traded Value      1,830,974       1,136,19861.15%

 

Over the course of the past week: the BLOM Stock Index (BSI) compiled by BLOMInvest Bank on a daily basis increased by 0.43% reaching 1,000.974 on October 22, 2021. The Market capitalization on the Beirut Stock Exchange (BSE) witnessed an increase from $10.22B to $10.25B. The average volume and value of trades also totaled 109,539 shares worth $1,830,974 compared to 47,821 shares worth $1,136,198 last week.

This week, the ministry of energy has stated that Lebanese will be able to get six more hours of power a day through the national grid within weeks resulting of a deal with Egypt and Jordan. Meanwhile, fuel prices continued to rise this week reaching an all-time high after complete removal of subsidies. In addition, technical talks with the International Monetary Fund and the Lebanese government have commenced this week to save the country out of its worst crisis. Moreover, US former diplomat and energy expert Mr. Hochstein visited Lebanon this week to discuss Lebanese-Israeli maritime border.

Regionally, the major Arab markets witnessed a better performance this week. In details, the S&P AFE 40 index, and S&P Pan Arab and MSCI increased weekly by 3.31%, 3.17% and 3.17%, respectively. In the Arab World, the bourse of Egypt, UAE, and Saudi Arabia were the top gainer this week, and witnessed a significant increase by 5.65%, 3.85%, and 3.18%, respectively. Meanwhile, least gainer was Tunisia with a drop of 2.80%.

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 90.15%, while banking and the industrial sectors grasped the rest with stakes of 8.68% and 1.16%, respectively. The most noteworthy trades throughout the mentioned period included:

  • Solidere (A) shares declined by 0.10% to $30.02/share
  • Solidere (B) shares increased by 3.52% to $30.88/share
  • BLOM Listed added 2.86% to $3.60/share
  • Audi GDR decreased by 8.97% to $3.55/share
  • Audi Listed slumped by 10.04% to $2.24/share
  • Byblos retreated by 2.17% to $0.90/share
  • Ciments Blancs (N) dropped by 2.54% to $5.75/share

As for the BLOM Preferred Shares Index (BPSI), it remains the same at 44.99 by the end of this week.

This week, the stock market in Lebanon recorded a better performance. The biggest real estate shares listed on the BSE are recording fluctuations mostly affected by the exchange rate of the Lebanese pound on the parallel market.  It is important to note that the financial sector in Lebanon will be subject to the IMF program that will be customized once the two concerned parties reach an agreement.

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