| 21/10/2022 | 14/10/2022 | % Change | |
| BLOM Stock Index | 1,267.393 | 1,291.514 | -1.87% |
| Average Traded Volume | 26,958 | 21,480 | 25.50% |
| Average Traded Value | 902,890 | 965,746 | -6.51% |
This week, the BLOM Stock Index (BSI) compiled by BLOMInvest Bank on a daily basis recorded a decrease of 1.87% to reach 1,267.393 on October 21, 2022. The market capitalization on the Beirut Stock Exchange (BSE) contracted weekly from $13.23B to $12.98B. The average volume and value of trades also totaled 26,958 shares worth $902,890 compared to 21,480 shares worth $965,746 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 97.76%, while the industrial sector and the banking sector grasped the remaining of 1.39% and 0.85%, 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, the bourse of Saudi Arabia, Egypt, Kuwait, and UAE increased respectively by 4.74%, 4.26% and 3.73%, and 1.47% by the end of this week. Meanwhile, the bourse of Morocco dropped by 5.30% by the end of week October, 21, 2022. Furthermore, The MSCI and the S&P Pan Arab index both increased by 3.56% and 1.20%, respectively, compared to last week.
In the US market, major Wall Street’s indexes dropped by the end of this week driven by the ongoing momentum in the US Treasury yields. The equity market generally moves inversely to the bond yields as higher bond yields make riskier investments less attractive. 10Y T-bills surpassed high levels of 2008 causing corporate earnings to evaporate. As such, the S&P 500 decreased by 0.11% on a weekly basis to stand at 3,665.78 by Friday 21, October, 2022, while NASDAQ index followed the same trend and slumped slightly by 0.32% to reach 10,614.84 for the same period.
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 0.63% and 0.22%, respectively, to stand at 12,600.98 and 5,991.07 by October 21, 2022 up from last week 12,521.56 and 5,978.20. Contrary, the FTSE 100 dropped by 0.61% from 6,934.75 to 6,892.47 by Friday after British PM Liz Truss resigned. As for Japan, NIKKEI index recorded a weekly slight drop of 0.74% to end up the week at 26,890.58. The index fell as the Japan’s consumer inflation hits 8 years high due to the dovish policy of Bank of Japan.