BLOM Stock Index Fell to a 2-Year Low Amidst Political Uncertainty

Amidst the continued political uncertainty, the BLOM Stock Index (BSI) dropped by 1.25% on Thursday to reach a 2-year low of 1,135.60, broadening its year-to-date loss to 2.96%. Nevertheless, the volume of traded shares remained low with no more than 15K shares trading today, which means the drop in the Lebanese gauge is reflecting illiquidity in the bourse rather than a selling frenzy. In the banking sector, Bank Audi listed shares and Byblos preferred shares 2008 lost 5.68% and 0.30% to settle at $5.65 and $100.70, respectively. In contrast, Byblos preferred shares 2009 and Bank Audi preferred shares class “G” gained 0.10% each to $100.70 and $100.60, respectively. Meanwhile, BLOM Bank preferred shares 2011 and Bank Audi preferred shares class “F” traded with no change in price.  In the real estate sector, Solidere “A” and “B” shares dropped by 0.98% and 2.14% to end the trading session at respective quotes of $10.09 and $10.06.