Trade on the Beirut Stock Exchange (BSE) was sluggish over the week, with the BLOM Stock Index (BSI) dropping 0.82% to 1,167.91 points. The average traded volume and value inched up marginally from last week’s 71,207 shares worth $697,548, to 71,507 shares worth $724,010. Accordingly, the market capitalization decreased from $9.91B to $9.83B.
The BSI however managed to outperform the S&P Pan Arab Composite Large-Mid-Cap Index, the S&P AFE 40 Index and the Morgan Stanley Emerging Markets Index (MSCI) which saw respective weekly losses of 2.64%, 1.91% and 1.01%.
On the regional front, only Tunis’s Bourse and Bahrain’s Stock Exchange realized gains, recording weekly increases of 0.28% and 0.10%, respectively. Bahrain’s stock market was mainly affected by the positive financial results of listed companies for the first half of 2015.
The worst performers were Saudi Arabia, Muscat and Egypt, as they downturned by 4.88%, 1.95% and 0.95%, respectively, over the week, due to the declining oil prices.
Back to the Beirut Stock Exchange, the banking sector captured 76.05% of the total traded value during the week. The BLOM GDR shares and Byblos listed shares gained 1.20% and 1.87% to close the week at $10.10 and $1.63, respectively. In contrast, the listed shares of BLOM and of Audi declined by 1.04% and 3.89% to $9.50 and $5.93, respectively.
On the other hand, the preferred shares exhibited a progress, where the BLOM Preferred Stock Index (BPSI) added a weekly 0.12% to 105.09 points. In details, Bank of Beirut (BoB) preferred shares class “I” and BLC preferred shares classes “B” and “C” improved 0.98%, 0.50% and 1% to $25.75, $100.50 and $101, respectively. This was partially offset by the 0.10% and 0.39% decreases of Audi preferred shares class “F” and Byblos preferred 2008 shares to $100.50 and $101.10, respectively.
In the real-estate sector, which took a 23.50% stake of total traded value, Solidere shares classes “A” and “B” lost 1.17% and 1.80% to close the week below $11, at respective quotes of $10.99 and $10.94.
The industrial sector also witnessed a negative performance, where HOLCIM shares decreased by 0.33% to $15.10.
For the coming week, the BSI will continue its sideway path, influenced by the upcoming political incidents and the financial results of listed banks for the first half of 2015.