| 23/2/2024 | 16/2/2024 | % Change | |
| BLOM Stock Index | 1,760.834 | 1,889.794 | -6.82% |
| Average Traded Volume | 27,462 | 38,636 | -28.92% |
| Average Traded Value | 1,637,266 | 1,255,689 | 30.39% |
The BLOM Stock Index (BSI) compiled by BLOMInvest Bank on a daily basis plunged weekly by 6.82% to reach 1,760.834 on February 23, 2024 down from 1,889.794 on February 16, 2024. Meanwhile, the market capitalization on the Beirut Stock Exchange (BSE) decreased weekly from $19.84B to $18,04B. The average volume and value of trades also totaled 27,462 worth $1,637,266 compared to 38,636 worth $1,255,689 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 99.34%, while the banking sector grasped the remaining shares of 0.35%. The most noteworthy trades throughout the mentioned period included:
As for the BLOM Preferred Shares Index (BPSI), it remained constant at 39.62 by February 23, 2024.
The Arab stock market recorded a better performance this week as S&P Pan Arab and MSCI indices increased respectively by 0.75% and 2.18% to stand at 1,011.42 and 1,020.62 points by the end of this week. Moreover, the bourse of Tunisia, Qatar and Saudi Arabia expanded respectively by 1.87%, 1.46%, and 1.20% while bourse of Bahrain and UAE slightly contracted respectively by 0.84%, and 0.31% by February 23, 2024.
In the US, S&P 500 and NASDAQ expanded respectively by 1.14% and 0.85% to stand at 5,087.03 and 16,041.62 points by February 23, 2024 compared to the previous week. Indeed, US stocks’ Gains were fueled by higher earnings for corporates despite inflation came higher than expected. Interesting to note that the markets were up due to positive earnings news of the giant ship producer of AI technology Nvidia.
As for Europe’s stock market, DAX Germany, CAC 40 and FTSE 100 Britain expanded respectively, by 1.10%, 1.97% and 1.97% to stand at 17,371.97, 7,943.79 and 7,684.88 points by February 23, 2023. Elsewhere, NIKKEI expanded by 1.59% by the end of the week to stand at 39,098.68 points by February 23, 2024.