| 6/10/2023 | 29/9/2023 | % Change | |
| BLOM Stock Index | 1,795.060 | 1,779.147 | 0.89% |
| Average Traded Volume | 49,927 | 6,508 | 667.16% |
| Average Traded Value | 3,054,267 | 457,562 | 567.51% |
The BLOM Stock Index (BSI) compiled by BLOMInvest Bank on a daily basis recorded a weekly uptick of 0.89% to reach 1,795.06 on October 06, 2023 down from 1,779.147 on September 29, 2023. The market capitalization on the Beirut Stock Exchange (BSE) increased weekly from $18.234B to $18.397B. The average volume and value of trades also totaled 49,927 shares worth $3,054,267 compared to 6,508 shares worth $457,562 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 95.84%, while the banking and industrials sectors grasped the remaining 4.12% and 0.04% 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 October 06, 2023.
The Arab stock market showed a worst performance this week mainly driven by the sharp fall of oil prices by the end of this week. S&P Pan Arab and MSCI indices decreased weekly by 1.65% and 2.62%, respectively, to stand at 903.99 and 927.86 points by the end of the week. Moreover, the bourse of Bahrain, and Tunisia expanded respectively by 0.61% and 0.34% while the bourse of Saudi Arabia, Qatar, and Kuwait contracted respectively by 2.63%, 1.85%, and 1.58% by October 06, 2023.
In line with the overall uncertainty about the US economy this week, most of global stock indices witnessed a fall driven by a potential mid-November US government shutdown, already a serious risk to the market. Not to mention the upcoming US jobs report on Friday that could carry significant market risk this week.
As such, S&P 500 decreased by 0.70% to stand at 4,258.19 while NASDAQ slightly added 1.24% to 13,219.84 by October 06, compared to the previous week. Elsewhere, DAX and CAC 40 dropped by 1.65% and 1.67% to reach 15,133.34 and 7,015.73 on Friday October 06, 2023 while Japan market recorded a loss of 2.71% on a weekly basis to settle at 30,994.67 down from 31,857.61 in the previous week. As for the British market, FTSE 100 recorded a slight decrease of 1.85% to stand at 7,467.23 points on Friday October 06, 2023.