Activity on the Beirut Stock Exchange (BSE) grew stronger for the third consecutive week with the number of shares changing hands rising to 321,701 shares from 211,722 shares in the week before. Similarly, value traded soared to $5.78 million compared to $4.79 million a week earlier. Trades were mainly concentrated in real estate sector stocks, which accounted for 58.81% of weekly traded volume.

The average daily traded volume increased to 64,340 shares this week, from 42,344 shares in the week before. Concurrently, the average daily traded value rose to $1.16 million, from around $0.96 million a week earlier.

Four gaining and no losing stocks were screened this week, lifting the BSE’s market capitalization up by 0.94% week-on-week to around $10.08 billion and the Credit Libanais Aggregate Stock Index (“CLASI”) by 1.05% to 1,034.87.

In the real estate sector, trades consisted of Solidere “A” and “B” shares (56.63% of weekly traded volume), with the price of Solidere “A” rising by 0.66% week-on-week to $30.60 and that of Solidere “B” increasing by 2.35% to $30.53. Consequently, the Credit Libanais Construction Sector Stock Index (“CLCI”) ended the week 1.21% higher on a weekly basis at 1,566.34.

In the banking sector, Byblos Bank listed shares amassed the highest concentration of trades (24.73% of total BSE traded volume) with a thin turnover ratio of 0.01%. The Credit Libanais Financial Sector Stock Index (“CLFI”) in its turn closed its week up by 0.81% to 672.61 as a result of the 7.03% appreciation in the price of BLOM Bank GDRs to $3.50 and the 0.96% increase in the price of Bank Audi listed shares to $2.10.

The market-cap weighted average price to book value (P/BV) multiple of listed stocks ended its week higher at 1.900 based on the closing prices of Friday’s session compared to 1.877 in the previous week.