Activity on the Beirut Stock Exchange (BSE) remained subdued this week amid Easter holidays, with the number of shares changing hands increasing to 538,358 shares from 245,394 shares last week. Value traded was no exception, rising to $2.81 million, from $1.56 million a week before. Trades were mainly concentrated in banking sector stocks, which accounted for 68.84% of weekly traded volume.

The average daily traded volume rose to 179,453 shares this week, from 61,349 shares in the previous week. In addition, the average daily traded value increased to $0.94 million, from around $0.39 million a week earlier.

Two losing and one gaining stocks were screened throughout the week, dragging the BSE’s market capitalization down by 0.20% week-on-week to just below $6.13 billion and the Credit Libanais Aggregate Stock Index (“CLASI”) down by 0.26% to 555.26.

In the real estate sector, trades consisted of Solidere “A” and “B” shares (31.16% of weekly traded volume), with the price of Solidere “A” increasing by 2.42% to $10.15 and that of Solidere “B” dropping by 1.09% to $9.97. Consequently, the Credit Libanais Construction Sector Stock Index (“CLCI”) ended its week 0.90% higher at 538.54.

In the banking sector, BLOM bank listed shares amassed the highest concentration of trades (61.77% of total BSE traded volume) on a very thin turnover ratio of 0.15%. The Credit Libanais Financial Sector Stock Index (“CLFI”) ended Friday’s session down by 0.99% on a weekly basis at 556.94 as a result of the 3.70% contraction in the price of Bank Audi listed shares to $1.30.

The market-cap weighted average price to book value (P/BV) multiple of listed stocks ended its week higher at 0.594 based on the closing prices of Friday’s session.