Activity on the Beirut Stock Exchange (BSE) gained momentum this week with the number of shares changing hands rising to 130,704 shares from 60,917 shares in the week before and value traded increasing to $5.82 million compared to $2.02 million a week earlier. Trades were mainly concentrated in real estate stocks, which accounted for 72.67% of weekly traded volume.

The average daily traded volume rose to 26,141 shares this week, from 20,306 shares in the week before, with the average daily traded value also increasing to $1.16 million, from around $0.67 million a week earlier.

Two losing and one gaining stock were screened this week, dragging the BSE’s market capitalization down by 1.95% week-on-week to around $14.39 billion and the Credit Libanais Aggregate Stock Index (“CLASI”) by 2.09% to 1,534.35.

In the real estate sector, trades mainly consisted of Solidere “A” and “B” shares (71.90% of weekly traded volume), with the price of Solidere “A” dropping by 2.01% week-on-week to $60.95 and that of Solidere “B” contracting by 4.05% to $60.45. The price of Holcim Liban, however, rose by 0.73% w-o-w to $27.70. Consequently, the Credit Libanais Construction Sector Stock Index (“CLCI”) ended Friday’s session 2.63% lower on a weekly basis at 3,045.12.

In the banking sector, Bank Audi listed shares amassed the highest concentration of trades (18.15% of total BSE traded volume) with a very thin turnover ratio of 0.004%. The Credit Libanais Financial Sector Stock Index (“CLFI”) closed Friday’s session flat at 531.61 in the absence of any gaining or losing banking stocks.

The market-cap weighted average price to book value (P/BV) multiple of listed stocks ended its week lower at 4.557 based on the closing prices of Friday’s session compared to 4.707 in the previous week.