Activity on the Lebanese stock market recovered during the seventh month of 2025 with the number of shares changing hands increasing by 114.66% month-on-month to 1,065,838 shares, compared to 496,525 shares in June, with value traded soaring by 175.56% to $29.92 million, from around $10.86 million a month earlier. Trades mainly consisted of banking stocks (69.31% of total number of shares traded) followed by real estate (29.72%) and industry & trading (0.98%) stocks. The market capitalization of listed companies dropped by 11.94% in July to $20.71 billion, noting that it came in 11.38% higher year-on-year when compared to the $18.59 billion reading reported in July 2024. The monthly decrease in the market capitalization owes to the contraction in the prices of heavy market-capitalization weighted stocks, namely Solidere “A” (15.75% monthly drop) and Solidere “B” shares (18.50% monthly decrease).

On an annual basis, the number of shares changing hands on the BSE rose by 41.93% in the first seven months of 2025 to 9.31 million shares while the value of shares traded plummeted by 41.26% to $170.38 million. As far as trading multiples are concerned, the weighted average Price to Book Value (P/BV) multiple of listed stocks ended the last trading day of July 2025 lower at 6.828x compared to 8.210x in June, noting that it stood at 6.651x in July 2024 at a time when the prices of heavy market-cap weighted Solidere “A” and “B” shares were trading at $81.95 and $81.00 respectively, compared to closing prices of $84.25 for Solidere “A” shares and $83.95 for “Solidere “B” shares at end of July 2025.

Overall, trading activity grew stronger in July 2025 as evidenced by the rise in the turnover ratio (being the number of shares traded divided by total listed shares) to 0.05%, up from 0.03% a month earlier. Similarly, the turnover ratio increased to 0.48% as at the end of the first seven months of this year, compared to 0.33% in the same period last year.