| 14/10/2022 | 7/10/2022 | % Change | |
| BLOM Stock Index | 1,291.514 | 1,262.878 | 2.27% |
| Average Traded Volume | 21,480 | 24,794 | -13.37% |
| Average Traded Value | 965,746 | 563,620 | 71.35% |
This week, the BLOM Stock Index (BSI) compiled by BLOMInvest Bank on a daily basis recorded an increase of 2.27% to reach 1,291.514 on October 14, 2022. The market capitalization on the Beirut Stock Exchange (BSE) expanded weekly from $12.94B to $13.23B. The average volume and value of trades also totaled 21,480 shares worth $965,746 compared to 24,794 shares worth $563,620 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 99.18%, while the banking sector and the industrial sector grasped the remaining of 0.80% and 0.01%, respectively. The most noteworthy trades throughout the mentioned period included:
As for the BLOM Preferred Shares Index (BPSI), it remained unchanged at 41.02 by October 14, 2022.
In the Arab region, it is unanimously agreed that crude oil prices are affecting the market. As such, the bourse of Saudi Arabia, Kuwait, and Qatar are decreasing respectively by 2.86%, 2.65% and 2.38%, meanwhile UAE bourse increased by 0.76%. Furthermore, The MSCI and the S&P Pan Srab index both decreased by 6.15% and 2.76%, respectively, compared to last week.
In the US market, the equities posted a surge after the September US inflation release. In details, the S&P 500 increased by 0.83% on a weekly basis to stand at 3,669.91 by Friday 14, October 2022, while the NASDAQ index slumped slightly by 0.03% to reach 10,649.15 for the same period. Overall, stocks markets remain relatively low due to darkened economic outlook.
In Europe, equity market posted a positive record on Friday as investors looked past the hotter than expected US inflation data. For instance, DAX index and CAC 40 registered an uptick of 1.77% and 1.90%, respectively, to stand at 12,521.56 and 5,978.20 by October 10, 2022.
Meanwhile, the FTSE 100 dropped by 0.81% as investors are keeping a close eye on developments in the UK government’s economic strategy. The Prime Minister Liz Truss announced that it will reverse parts of her proposals later this week following weeks of market pressure as well as the Bank of England is also set to pull out support for the Bond market on Friday. As for Japan, NIKKEI index recorded a weekly slight drop of 0.09% but more than 8% this year to end up the week at 27,090.76. The index fell as the Japanese yen plunged to an all-time low but Bank of Japan kept on its monetary policy and left its interest rates in the negative zone while continuing with the quantitative easing policies.