Solidere Pushed BSI down to 1,795.06 points

The BLOM Stock Index (BSI) compiled by BLOMInvest Bank on a daily basis dropped weekly by 1.03% to reach 1,776.596 on October 13, 2023 down from 1,795.06 on October 6, 2023. The market capitalization on the Beirut Stock Exchange (BSE) decreased weekly from $18.397B to $18.21B. The average volume and value of trades also totaled 4,800 shares worth $364,567 compared to 11,501 shares worth $505,433 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 98.35%, while the banking and industrials sectors grasped the remaining 0.65% and 0.99% shares respectively.  The most noteworthy trades throughout the mentioned period included:

• Solidere (A) shares dropped by 2.53% to settle at $75.05/ share
• Solidere (B) shares contracted by 0.58% to settle at $76.6/ share
• Ciments Blancs (N) shares dropped by 4.96% to settle at $23/share
• Audi GDR shares increased by 17.24% to settle at $1.36/ share
• Byblos Listed shares increased by 5.26% to settle at $0.8/ share

As for the BLOM Preferred Shares Index (BPSI), it remained constant at 39.62 by October 13, 2023.

The Arab stock market showed a mixed performance this week, as S&P Pan Arab dropped by 1.72% to stand at 888.61, meanwhile MSCI increased by 2.08% to stand at 956.84 by the end of this week. Moreover, the bourse of Morocco and Qatar expanded respectively by 3.44% and 0.57% respectively meanwhile the bourse of UAE, Saudi Arabia and Tunisia contracted respectively by 4.7%, 1.66% and 0.4% by October 13, 2023.

In line with the inflation data in the US which came same as August at 3.7% yearly, American stock indices ended the week in the green, with S&P 500 and NASDAQ increasing respectively by 0.95% and 1.07% weekly to stand at 4,349.61 and 13,574.22 points by October 13, compared to the previous week. Elsewhere, DAX added 0.34% to reach 15,282.19 on Friday October 13, 2023 while CAC 40 dropped slightly by 0.40% to 1,401.96 down from last week 1,407.60 points. Furthermore, FTSE 100 increased by 1.46% to stand at 7,603.53 points by the end of this week while Japan market recorded a gain of 4.26% on a weekly basis to settle at 32,315.99 up from 30,994.67 in the previous week.