Early today SOFIX fell 2% to 1198 points, hitting a 15-month low. Profit.bg talked to some of the leading brokers and market analysts in the country about that.

Vladislav Panev, chair of Status Capital Jsc's Board of directors, said the crisis was triggered by fear – “The investors with available cash are not willing to buy and shareholders are running away from them. Also, right now, foreign investors have lots of opportunities of stocks on the cheap all over the world.”

“I don't think they will be heading to the Bulgarian Stock Exchange first because of the low liquidity on the local market. I think our shares are currently traded at very attractive prices, but this does not mean the correction will be over soon,” he also said.

Ilian Skarlatov, Capital Markets Director in Sofia International Securities said: “While there is panic on the market, the danger of hitting more lows will exist. No one is watching company fundamentals right now, people just want their money, and they want it today.”

In macroeconomic terms, he said, nothing has changed – the nation's GDP is going up, public debt is low compared to the EU average, unemployment is decreasing and the standard of life is improving. The financial sector is one of the fastest growing in Europe. “With all that in mind, Skarlatov said, I find no logic in current events.”

Real Finance's executive director Hristian Pashkov says “We are witnessing nothing but a speculative pressure. Many small and medium players decided to sell now, hoping to buy later on the cheap. However, the important foreign players have not left BSE, I mean, the real important players. Those who left were the speculators, the real investors are still here.”

He also mentioned as very important the fact that there are no changes in the fundamentals of local public companies, i e there are no fundamental changes in the economy.

Pashkov also said that no one is analyzing the companies, but people are just watching what the bigger players do, waiting for signs and not knowing what to do.

According to Razvigor Hristov, investment consultant KD Securities, “Pessimism reigns on the market, investors are highly disappointed and selling. That makes me think good times for making purchases are coming.”