BSE Down this Week, by 1.06%

21/1/202214/1/2022% Change
BLOM Stock Index         968.804          979.186-1.06%
Average Traded Volume           43,462            22,24495.39%
Average Traded Value         959,331          587,85163.19%


This week, the BLOM Stock Index (BSI) compiled by BLOMInvest Bank on a daily basis decreased by 1.06% reaching 968.804 on January 21, 2022. The Market capitalization on the Beirut Stock Exchange (BSE) witnessed a decrease from $10.03B to $9.93B. The average volume and value of trades also totaled 43,462 shares worth $959,331 compared to 22,244 shares worth $587,851 last week.


Regionally, the major Arab markets witnessed a good performance this week. The S&P AFE 40 and the S&P Pan Arab increased weekly by 1.53%, and 1.30%, respectively. Meanwhile, MSCI decreased by 0.60% compared to last week. Moreover, in the Arab World, the bourse of Qatar and KSA were the top gainers this week, and witnessed an increase by 1.57%, and 1.75%, respectively. While Egypt market decreased by 2.34% compared to last 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 93.79%, while banking and real estate sectors grasped the rest with stakes of 5.04%, and 1.17% respectively. The most noteworthy trades throughout the mentioned period included:

  • Solidere (A) shares retreated by 0.56% to $30.40/share
  • Solidere (B) shares decreased by 2.83% to $29.83/share
  • Ciments Blancs (CB) increased by 9.09% to $6/share
  • Blom (GDR) decreased by 1.21% to $3.27/share
  • Blom listed slumped by 4.27% to $3.59/share


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


The BDL is trying desperately to appreciate the Lebanese lira against the dollar in the black market rate by injecting more dollars in the market, and by issuing the circular 161 that allows depositors to buy dollars from commercial banks at the “Sayarafa” rate that is less than the black market rate. Looking at the situation we can see that the arbitrage is there now, and the governor aims to equalize the “Sayrafa” and black market rate. In other words, BDL is trying to take the initiative and be the only one who can control and identify the exchange rate.  However, BDL must be aware that this step is not a sustainable solution. In terms of its impact on the stock market, the prices of Solidere declined in response to the exchange rate appreciation and consistent with previous trends.

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