|BLOM Stock Index|| 996.086|| 996.714||-0.06%|
|Average Traded Volume|| 65,017|| 37,171||74.91%|
|Average Traded Value|| 479,693|| 900,210||-46.71%|
This week, the BLOM Stock Index (BSI) compiled by BLOMInvest Bank on a daily basis slightly decreased by 0.06% reaching 996.086 on November 12, 2021. The Market capitalization on the Beirut Stock Exchange (BSE) witnessed a very small downtick from $10.21B to $10.20B. The average volume and value of trades also totaled 65,017 shares worth $479,693 compared to 37,171 shares worth $900,210 last week.
For this week in Lebanon, no solution has been placed to deal with the GCC-Lebanese crisis. In fact, diplomatic relations between Lebanon and the Gulf countries is aggravating in a time the country is already reeling from an economic to social crises. For instance, Kuwait seized on giving visas for Lebanese this week. However, some parties are pushing for the resignation of the information minister, while others are protecting him by claiming such an act is considered as a violation for the country’s sovereignty. All that and yet the Government is not taking responsibility for the most severe economic crisis in modern history.
Regionally, the major Arab markets witnessed a better performance this week. The S&P AFE 40, the S&P Pan Arab, and MSCI index all increased weekly by 2.21%, 1.47% and 1.02%, respectively. Moreover, In the Arab World, the bourse of UAE, Kuwait and Saudi Arabia were the top gainer this week, and witnessed a significant increase by 4.01%, 2.62%, and 1.83%, respectively. Meanwhile, least gainer was Morocco and Egypt with a drop of 1.80% and 0.96%.
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 87.92%, while banking and the industrial sectors grasped the rest with stakes of 10.39% and 1.69%, respectively. The most noteworthy trades throughout the mentioned period included:
- Solidere (A) shares added 0.40% to $30.02/share
- Solidere (B) shares jumped 0.64% to $29.94/share
- Audi Listed retreated by 2.04% to $2.40/share
- Byblos Listed went down by 2.20% to $0.89/share
- Holcim shares soared by 2.55% to $20.51/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 performance of the Beirut Stock Exchange (BSE) remained frail, with real estate transactions being the most active. Recent disruptions in the country shed uncertainty on the equity market as well as on the overall country’s recovery path. Investors on their turn monitor the next developments on the government’s renewed promises to adopt urgent actions in the next upcoming period. Especially no agreement with the IMF.