Beirut Stock Exchange ended this week with a small loss despite a positive performance across most traded stocks. Thus BLOM Stock Index (BSI) declined by 0.24% to 1,190.83 points this week, narrowing its year-to-date gains to 1.61%.
Similarly, the average daily traded volume went down to 188,100 shares worth $1.56M compared to 397,118 shares worth $3.46M last week. Market capitalization declined from $10.05B to $10.02B.
The banking sector grasped 82.4% of total traded value, while the real estate sector contributed to the remaining 17.6%.
In the banking sector, BLOM Bank listed and Bank Audi shares gained 0.63% and 0.16% to end the week at $9.66 and $6.12, respectively, noting that 60K BLOM’s common shares were cross traded on Tuesday. In contrast, both GDR shares of BLOM and Audi lost respective amounts of 0.50% and 4.10% to $10.00 and $6.32. Byblos Bank also declined by 1.23% to settle at $1.60 on June 5.
In the real estate sector, Solidere shares class “A” and “B” improved by 0.78% and 1.14% to $11.59 and $11.51, respectively.
In the industrial sector, HOLCIM shares lost 1.11% to $16.00
On a comparative scale, the BSI was outperformed by the S&P Pan Arab Composite Large-Mid-Cap Index and the S&P AFE 40 Index which gained 1.11% and 0.36%. However, the BSI outclassed the Morgan Stanley Emerging Markets Index (MSCI) which lost 2.13%, since last week.
On the regional front, some Arab Bourses posted weekly losses with Egypt’s Stock Exchange was the worst performer, dropping by 1.45%. This might be on the back of Non-Arab foreign investors reducing their holdings by EGP 44.7M during the week. Saudi-Arabia’s and Tunisia’s Bourses also ticked down during the week by respective 0.91% and 0.25%.