11/8/2023 | 3/8/2023 | % Change | |
BLOM Stock Index | 1,830.930 | 1,793.283 | 2.10% |
Average Traded Volume | 234,034 | 65,963 | 254.80% |
Average Traded Value | 1,769,366 | 1,384,855 | 27.77% |
The BLOM Stock Index (BSI) compiled by BLOMInvest Bank on a daily basis recorded a weekly rise by 2.1% to reach 1,830.93 on August 11th, 2023 up from 1,793.283 on August 3rd, 2023. The market capitalization on the Beirut Stock Exchange (BSE) increased weekly from $18.38B to $18.77B. The average volume and value of trades also totaled 234,034 shares worth $1,769,366 compared to 65,693 shares worth $1,384,855 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 96.9%, while the banking and industrials sectors grasped the remaining 1.76% and 0.42% shares respectively. The most noteworthy trades throughout the mentioned period included:
As for the BLOM Preferred Shares Index (BPSI), it remained constant at 39.62 by August 11th, 2023.
The Arab stock market contracted this week as S&P Pan Arab and MSCI dropped weekly by 0.3% and 0.74% respectively by August 11, to stand at 948.53 and 1008.34. Indeed, the bourse of Qatar, Tunisia and Kuwait contracted each respectively by 2.26%, 1.51% and 1.49%, while the bourse of Egypt expanded by 1.46% by August 11, 2023.
In the US, S&P 500 and NASDAQ dropped respectively by 0.73% and 1.59% to stand at 4,468.83 and 13,737.99 by August 11, compared to the previous week. Indeed, this week, US jobless claims rose remarkably and investors are more worried that a recession might come.
Major European stock markets recorded a better performance this week as DAX Germany CAC40 France and FTSE 100 increased respectively by 0.3%, 1.71% and 0.22% to stand at 15,941.16, 7,384.55 and 7,545.53 on August 11. Additionally, NIKKEI Japan rose weekly by 0.98% to stand at 32,473.65 on August 11, 2023.