Major Stock Indices Down, Except FTSE 100


22/9/202315/9/2023% Change
BLOM Stock Index               1,815.991               1,789.3781.49%
Average Traded Volume                    38,197                    94,695-59.66%
Average Traded Value               1,402,143               6,968,481-79.88%

The BLOM Stock Index (BSI) compiled by BLOMInvest Bank on a daily basis recorded a weekly uptick of 1.49% to reach 1,815.991 on September 22, 2023 down from 1,789.378 on September 22, 2023. The market capitalization on the Beirut Stock Exchange (BSE) increased weekly from $18.61B to $18.33B. The average volume and value of trades also totaled 38,197 shares worth $1,402,143 compared to 94,695 shares worth $6,968,481 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 96.99%, while the banking and industrials sectors grasped the remaining 2.27% and 0.75% shares respectively.  The most noteworthy trades throughout the mentioned period included:

  • Solidere (A) shares increased by 3.64% to settle at $79.75/ share
  • Solidere (B) shares contracted by 0.13% to settle at $77.30/ share
  • HOLCIM Liban expanded by 6.45% to settle at $66/share
  • BLOM GDR jumped by 16.82% to settle at $2.50/share
  • Audi GDR plunged by 14.07% to settle at $1.16/share
  • Audi Listed dropped by 5.53% to settle at $2.22/share
  • Byblos added 1.43% to settle at $0.71/share

As for the BLOM Preferred Shares Index (BPSI), it remained constant at 39.62 by September 22, 2023.

The Arab stock market showed a worst performance this week. S&P Pan Arab and MSCI indices decreased weekly by 0.99% and 2.63%, respectively, to stand at 916.23 and 956.25 points by the end of the week. Moreover, the bourse of Egypt, Qatar, and Morocco expanded respectively by 1.43%, 0.27% and 0.02% while the bourse of Saudi Arabia and Kuwait contracted respectively by 1.01%, and 0.43%, by September 22, 2023.

Major global stock indices witnessed a drop this week unlike British stock market that recorded a slight uptick. In fact, according to OECD report, the world economy is set for a slowdown as high interest rate would weigh on activity and China’s pandemic rebound fails. In fact, the gloomy outlook would test Central Bankers as the impact of their tight policy continues to feed through to the economic worries that activity is being disappointed.

As such, S&P 500 and NASDAQ in the US decreased respectively by 3.89% and 5.04% to stand at 4,330 and 13,223.98 by September 22, compared to the previous week. In the same token, DAX and CAC 40 dropped by 2.65% and 2.77% to reach 15,539.95 and 7,174.68 on Friday September 22, 2023, while Japan market recorded a loss of 3.37% on a weekly basis to settle at 32,402.41 down from 33,533.09 in the previous week. As for the British market, the rise in UK consumer confidence to the highest level in almost two years stabilized the market. As a result, FTSE 100 recorded a slight increase by 0.05% to stand at 7,723.89 points on Friday September 22, 2023.

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