Indexes ended the second trade session of 2008 with significant declines. The broad BG40 lost the most – 2.3% to 504.83 points and it looks as if about to drop below 500 points.

On December 19 the indicator hit a three-month low of 488.03 points.

If BG40 tests 500 points, this will be a key moment for trade. If the index stays above 500, this may trigger the long-expected surge known as the January effect.

SOFIX lost 1.7% today to 1 707.48 points and looks ready to test 1,700. The young BGTR30 fell 1.3% to 1 071.21.

It may just be a coincidence but the declines on the local stock exchange today were in unison with the trend on the foreign markets. Yesterday American indexes suffered some serious losses, which was the case today with indexes in Asia and in most countries in Central and Eastern Europe.

Most of BSE's key issues ended the day down. Investors' attention was mainly concentrated on Holding Patishta, as trade with the shares was resumed today.

After adding a little this morning, compared to the old price (before the split) shares declined all day. The final transactions today were at 1,523 leva, which corresponds to 38 075 leva before the split, which is a very slight increase compared with the 38 000, at which they were last traded.

The declines in the past two days are happening at very small trade volumes. Today's daily turnover stood at just 6.8 mln leva (3.476 mln euros).

Trace Group Hold lost 3.9% today to 268.13 leva, Aroma fell 4.7%, Industrial Holding Bulgaria dropped 2.3% and Monbat fell 1.6%.

Eurohold declined 2.7% to 6.56 leva at a relatively high turnover of 12,300 shares.

Bulstrad lost some 4% to 245.76 leva after a little over 200 shares changed hands.