| 3/6/2022 | 27/5/2022 | % Change | |
| BLOM Stock Index | 1,461.590 | 1,484.717 | -1.56% |
| Average Traded Volume | 111,624 | 149,448 | -25.31% |
| Average Traded Value | 4,075,101 | 6,405,991 | -36.39%
|
This week, the BLOM Stock Index (BSI) compiled by BLOMInvest Bank on a daily basis recorded a decrease by 1.56% to reach 1,461.590 on June 03, 2022. The Market capitalization on the Beirut Stock Exchange (BSE) decreased weekly from $15.21B to $14.98B. The average volume and value of trades also totaled 111,624 shares worth $4,075,101 compared to 149,448 shares worth $6,405,911 last week.
This week also the national currency has improved and recorded approximately LBP/USD 28,500 by the end of this week, after it reached LBP/USD 32,000 last week. Of course, what is happening in the FX market is unhealthy in terms of economic stability as BDL cannot continue to interfere in the market for a long time in order to maintain the FX rate at a stable rate.
In the Arab region this week, the S&P Pan Arab ,S&P AFE 40 and MSCI index increased all by 1.37%, 1.90% and 3.76%, respectively. Moreover, this week the bourse in UAE increased by 2.75%, while the bourse in Egypt decreased by 1.89%.
On the Beirut Stock Exchange (BSE), the real estate sector grasped the biggest share of the BSE’s trading value with a stake of 97.67%, while industrial stock grasped 0.0.3% and the banking sector grasped the remaining of 2.30%. The most noteworthy trades throughout the mentioned period included:
As for the BLOM Preferred Shares Index (BPSI), no major changes recorded during the period as it stood at 41.54 by the end of this week.
The BSI retreated this week, after an improvement of the national currency against the dollar in the black market. Of course Solidere stock (A) retreated after it recorded an unprecedented high price last week due the negative correlation between this stock and the Lebanese lira. But, overall the Solidere price remains low in real terms, so we expect to see it rise further in the future.