BSE Stood at 976.791 amid Stability in the Parallel Market Exchange Rate

This week, the BLOM Stock Index (BSI) compiled by BLOMInvest Bank on a daily basis slightly decreased by 0.06% to reach 976.791 on February 11, 2022. The Market capitalization on the Beirut Stock Exchange (BSE) witnessed a decrease from $10.017B to $10.011B. The average volume and value of trades also totaled 104,988 shares worth $388,236 compared to 38,128 shares worth $641,847 last week.

Regionally, the major Arab markets recorded a good performance this week amid the increase in oil prices. The S&P Pan Arab and the S&P AFE 40 index went up weekly by 1.06% and 0.87%, respectively, while the MSCI index added 3.37% compared to last week. Moreover, the bourse of UAE, Qatar and Egypt were the top gainers this week, and witnessed an increase by 2.74%, 1.22%, and 1.04%, respectively.

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 73.51%, while banking and industrial sectors grasped the rest with stakes of 24.92 and 1.57%, respectively. The most noteworthy trades throughout the mentioned period included:

• Solidere (A) shares increased by 0.10% to $30.57/share
• Solidere (B) shares decreased by 0.47% to $29.92/share
• BLOM listed plunged by 5.29% to $3.40/share
• Hoclim jumped 10% to $22/share
• Audi listed decreased by 4.55% to $2.10/share
• Blom listed plunged by 1.47% to $3.35/share
• Byblos listed increased by 2.44% to $0.84/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 BSE remained steady with no major changes as the volatility of Lebanese pound in the black market has eased due to the intervention of BDL through Sayarafa. As we mentioned previously, the Solidere stock is correlated with the exchange rate in black market, so less volatility in the Fx market will reflect a lower volumes trades on Solidere stock.