|BLOM Stock Index||1,338.734||1,297.922||3.14%|
|Average Traded Volume||28,095||414,562||-93.22%|
|Average Traded Value||667,701||3,256,454||-79.50%|
This week, the BLOM Stock Index (BSI) compiled by BLOMInvest Bank on a daily basis recorded an increase of 3.14% to reach 1,338.734 on November 4, 2022. The market capitalization on the Beirut Stock Exchange (BSE) expanded weekly from $13.30B to $13.72B. The average volume and value of trades also totaled 28,095 shares worth $667,701 compared to 414,562 shares worth $3,256,454 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 97.19%, while the banking sector and the industrial sector grasped the remaining of 2.67% and 0.15%, respectively. The most noteworthy trades throughout the mentioned period included:
- Solidere (A) shares increased by 5.32% to settle at $56.4/share
- Solidere (B) shares expanded by 2.12% to settle at $55.5/share
- BLOM (GDR) slightly increased by 0.36% to settle at $2.76/share
- Audi Listed increased by 9.93% to settle at $1.55/share
- Byblos Listed shares added 3.45% to settle at $0.6/share
- Holcim Liban fell by 5.6% to settle at $31/share
As for the BLOM Preferred Shares Index (BPSI), it remained unchanged at 41.02 by November 4, 2022.
In the Arab region, the S&P Pan Arab index retreated by 1.48% to settle at 974.22, whereas the MSCI index slightly increased by 0.17% to settle at 860.9 on November 4th, 2022 compared to the previous week of October 28th. Moreover, Bourse of Kuwait, Egypt and Tunisia added 1.85%, 1.72%, and 0.63% respectively, by the end of this week. Meanwhile, the bourse of Saudi Arabia and UAE recorded a downtick of 2.31% and 0.49% respectively by the end of this week.
In the US market, major indexes in the Wall Street dropped by the end of this week driven by a 0.75 percentage points hike in interest rates by the Federal Reserve as of November 2nd. As higher interest rates tend to negatively affect earnings and stock prices (with the exception of the financial sector), the S&P 500 fell by 2.3% on a weekly basis to stand at 3,720 by Friday, November 4, while NASDAQ index followed the same trend and dropped by 4.17% to reach 10,343 for the same period.
In Europe, equity markets posted a positive record by Friday, November 4, 2022, despite the interest rate hike of 0.75 percentage points by ECB on October 27. In fact, DAX index and CAC 40 registered respectively an uptick of 1.68% and 2.36%, to stand at 13,347.88 and 6,377.46 by November 4th, 2022 up from last week 13,127.03 and 6,230.72. Similarly, the FTSE 100 grew by 3.4% from 7,042.65 to 7,282.02 by Friday, November 4th after the selection of new Prime Minister Rishi Sunak. As for Japan, NIKKEI index recorded a weekly slight uptick of 0.35% to end up the week at 27,199.74.