Solidere Pushed BSI Up To 1,262.878

This week, the BLOM Stock Index (BSI) compiled by BLOMInvest Bank on a daily basis recorded a decrease of 1.37% to reach 1,262.878 on October 7, 2022. The market capitalization on the Beirut Stock Exchange (BSE) expanded weekly from $12.77B to $12.94B. The average volume and value of trades also totaled 24,794 shares worth $563,620 compared to 815,050 shares worth $1,872,874 last week.

The MSCI and the S&P Pan Srab index both increased by 4.27% and 2.69%, respectively, compared to last week. Moreover, Bourse of Saudi Arabia, Qatar and Kuwait added respectively 3.09%, 2.63% and 1.14% by the end of this week. Meanwhile, the bourse of Tunisia registered a downtick of 2.9%, by the end of 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 95.57%, while the banking sector and the industrial sector grasped the remaining of 2.80% and 1.63%, respectively. The most noteworthy trades throughout the mentioned period included:

• Solidere (A) shares increased by 0.78% to settle at $51.45/share
• Solidere (B) shares added 2.32% to settle at $53/share
• BLOM Listed expanded by 1.03% to settle at $2.93/share
• Audi GDR retreated by 5.37% to settle at $1.41/share
• Byblos listed shares increased by 1.69% to settle at $0.60/share
• Holcim Liban soared by 9.85% to settle at $31/share

As for the BLOM Preferred Shares Index (BPSI), it remained unchanged at 41.02 by October 07, 2022.

This week was somehow positive for the Beirut Stock Exchange (BSE) backed by higher real estate stock prices. Solidere A and B started the week on low levels compared to the previous week, however negative investors’ sentiment prevailed again due to rising concerns about the economic meltdown and demand re-picked over real estate stock to end up the week on a higher levels.