Activity on the Lebanese stock market improved markedly during the tenth month of 2025 with the number of shares changing hands increasing by 116.02% month-on-month to 4,603,646 shares, compared to 2,131,108 shares in September and value traded rising by 89.48% to $55.02 million, from around $29.04 million a month earlier. Trades mainly consisted of banking stocks (92.06% of total number of shares traded) followed by real estate (7.64%) and industry & trading (0.31%) stocks. The market capitalization of listed companies fell by 1.57% in October to $20.60 billion, noting that it came in 6.53% lower year-on-year when compared to the $22.04 billion reading reported in October 2024. The monthly decrease in the market capitalization is attributed to the drop in the prices of heavy market-capitalization weighted stocks, namely Solidere “A” (7.64% monthly decrease) and Solidere “B” (7.00% monthly drop) shares which together eroded the monthly increase in the prices of BLOM Bank listed shares (45.35% monthly rise) and Bank Audi listed shares (1.36% monthly increase) .

On an annual basis, the number of shares traded on the BSE rose by 104.28% in the first ten months of 2025 to 18.83 million shares while the traded value plummeted by 33.98% to $276.44 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 October 2025 lower at 6.135x compared to 6.787x in September, noting that it stood at 7.474x in October 2024 at a time when the prices of heavy market-cap weighted Solidere “A” and “B” shares were trading at $95.25 and $97.00 respectively, compared to closing prices of $78.55 for Solidere “A” shares and $79.00 for “Solidere “B” shares at end of October 2025.

Overall, trading activity grew stronger in October 2025 as evidenced by the rise in the turnover ratio (being the number of shares traded divided by total listed shares) to 0.23%, up from 0.11% a month earlier. Similarly, the turnover ratio increased to 0.96% as at the end of the first ten months of this year, compared to 0.47% in the same period last year, reflecting a more dynamic trading stance.