|BLOM Stock Index|| 1,327.810|| 1,354.307||-1.96%|
|Average Traded Volume|| 53,890|| 29,390||83.36%|
|Average Traded Value|| 2,347,619|| 1,689,227||38.98%|
This week, the BLOM Stock Index (BSI) compiled by BLOMInvest Bank on a daily basis recorded a contraction of 1.96% to reach 1,327.810 on November 25, 2022. The market capitalization on the Beirut Stock Exchange (BSE) dropped weekly from $13.88B to $13.60B. The average volume and value of trades also totaled 53,890 shares worth $2,347,619 compared to 29,390 shares worth $1,689,227 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 99.11%, while the banking sector and the industrial sector grasped the remaining of 0.72% and 0.17%, respectively. The most noteworthy trades throughout the mentioned period included:
- Solidere (A) shares dropped by 2.43% to settle at $56.20/share
- Solidere (B) shares plunged by 4.03% to settle at $54.75/share
- HOLCIM shares increased by 3.23% to settle at $32/share
- Byblos Listed jumped by 5.26% to settle at $0.60/share
- BLOM GDR added 1.45% to settle at $2.80/share
- BLOM Listed retreated by 3.33% to settle at $2.90/share
As for the BLOM Preferred Shares Index (BPSI), it remained constant at 41.01 by November 25, 2022.
In the Arab region, major Arab bourses recorded a better performance this week. The MSCI index increased by 0.34%, while the S&P Pan Arab index decreased by 1.20%, compared to last week. Moreover, Bourse of Egypt, Morocco and Tunisia added 3.55%, 1.95% and 0.18% respectively, by the end of this week. Meanwhile, the bourse of Qatar, Saudi Arabia and UAE DFM dropped by 3.45%, 1.91% and 1.17% respectively by the end of this week.
The US equity market recorded a positive momentum this week amid market expectations regarding slow interest rate hikes by the Federal Reserve. As such, S&P 500 and NASDAQ respectively rose by 2.04% and 1.26% on a weekly basis to stand at 4,027.26 and 11,285.32 by Friday November, 25, 2022. The investors held an optimistic sense this week with risk appetite on the rise due to solid performance and a rally in bonds despite the increase in the U.S jobless claims and a cooler labor market.
In Europe, equity market posted a positive record by the end of week, on November 25, 2022. In fact, DAX index and CAC 40 registered an uptick of 0.62% and 0.95%, respectively, to stand at 14,527.47 and 6,712.92, respectively, as the market absorbed some positive data from Europe. Moreover, the market behaved a little more confidently towards the ECB interest rates hike which aims to avoid medium term price pressures. In the same token, the FTSE 100 increased by 0.99% from 7,409.48 to 7,482.87 by Friday after the announcement of a conservative budget. As for Japan, NIKKEI index recorded a weekly upturn of 1.37% to end up the week at 28,283.03.