BSI Slightly Increased Despite Fluctuation in Stock Prices


19/11/202112/11/2021% Change
BLOM Stock Index         998.202          996.0860.21%
Average Traded Volume           31,087            65,017-52.19%
Average Traded Value         874,626          479,69382.33%


This week, the BLOM Stock Index (BSI) compiled by BLOMInvest Bank on a daily basis slightly increased by 0.21% reaching 998.202 on November 19, 2021. The Market capitalization on the Beirut Stock Exchange (BSE) witnessed a very small uptick from $10.20B to $10.23B. The average volume and value of trades also totaled 31,087 shares worth $874,626 compared to 65,017 shares worth $479,693 last week.

This week, after fully removing subsidies on fuel, the Government is now gradually reducing them on medicine. Moreover, the World Bank estimates poverty rates to increase by as much as 28% by the end of the year of 2021, while Government has yet to materialize the long awaited ration card program to assist the country’s poorest.

Regionally, the major Arab markets witnessed a worst performance this week. The S&P Pan Arab, the S&P AFE 40, and MSCI index all decreased weekly by 1%, 0.73% and 0.59%, respectively. Moreover, In the Arab World, the bourse of UAE and Bahrain were the top gainer this week, and witnessed an increase by 5.09% and 0.18%, respectively. Meanwhile, least gainer was Saudi Arabia and Egypt with a drop by 1.24% for both bourses, while Qatar’s bourse decreased by 0.52% this week.

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 95.16%, while banking and the industrial sectors grasped the rest with stakes of 3.70% and 1.14%, respectively. The most noteworthy trades throughout the mentioned period included:

  • Solidere (A) shares added 0.77% to $30.25/share
  • Solidere (B) shares jumped 0.73% to $30.16/share
  • Byblos Listed went down by 1.12% to $0.88/share
  • Holcim shares retreated by 2.49% to $20.00/share

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

This week was somehow positive for the Beirut Stock Exchange (BSE) backed by real estate transactions. No major security events were recorded in Lebanon. However, the insignificant increase indicated that negative investor sentiment prevailed again due to rising concerns about the economic meltdown. The political status quo lingered yet again. Day and time for the next elections are not determined yet, while funds from international institutions have not been unlocked as well.

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