Sell-offs Dominate BSE Trading Today

The SOFIX blue-chip index of the Bulgarian Stock Exchange (BSE) ended second straight session with losses. Unlike yesterday, the broader BG40 index also closed in negative territory today. The SOFIX index declined by 1.33% to 1,251.83 points, while the BG40 slipped by 2.24% to 349 points.
The BG REIT index of real estate investment trusts and the BG TR30 index of best performers in total return ended the day on positive turf. The BG REIT closed 1.03% higher at 96.02 points, while the BG TR30 advanced by 0.07% to 843 points.
A total of 123 stocks were traded on BSE today, while the trading turnover totaled 6.9 mln leva. A total of 38 of the stocks ended the day with gains. The value of the block deals and other registered trades amounted to 780,000 leva.
A total of 13 stocks included in the calculation of the SOFIX ended the day with losses, while only Corporate Commercial Bank, Toplivo and Sopharma posted gains. Each of the three companies advanced less than 0.5% on the day.
Corporate Commercial Bank's stock appreciated by 0.16% to an average of 87.39 leva per share. Toplivo's stock price went up by 0.35% to an average of 20.12 leva per share. A total of 35,348 shares in Sopharma traded hands on the day, mainly in three transactions. The stock added 0.33% to its value closing at 6.08 leva per share.
Central Cooperative Bank (CCB) and Orgachim were among SOFIX's worst performers today. CCB 's stock depreciated by 4.93% to an average of 5.4 leva per share after 12,583 shares traded.
Orgachim skidded 5.98% lower to an average of 371.27 leva per share with only 160 shares traded.
First Investment Bank's stock prices went down for the first time in the last few sessions. A total of 36,694 shares in the bank traded hands on the day at prices ranging between 7.5 and 7.29 leva per share. As a result the stock depreciated by 2.27% to an average of 7.33 leva per share.
Fitch Ratings changed FIBank's outlook from Positive to Stable yesterday. The other ratings of the bank were affirmed at Long-term Issuer Default (IDR) 'BB-' (BB minus), Short-term IDR 'B', Individual 'D', Support '5' and Support Rating Floor 'No Floor'.
The Outlook change reflects Fitch's view of the currently more challenging operating environment for FIBank, which makes it less likely for its Long-term IDR to be upgraded in the short- to medium-term.
The growing speculations about the fate of the Kremikovtzi steel mill sent the stock price of the company 8.16% lower to an average of 9.23 leva per share. A total of 51,913 shares in the steel mill changed hands on the day.
Bulgaria's Financial Supervision Commission (FSC) refused to confirm Polimeri's prospectus, which sent the price of the stock 28.47 higher at an average of 5.46 leva per share. Polimeri's stock price went down by 40% in just two trading sessions follоwиng the company's announcement in the end of February that it plans to raise its capital from 5.32 mln leva to 55.32 mln leva through the issuing of 50 mln new shares with 1 leva par and issue value each.
Petrol was not affected by today's market correction. The stock of the company appreciated by 3.47% to a new record high of an average of 10.45 leva per share.
Unlike Petrol's, Zarneni Hrani's streak came to a halt today. The stock of the agricultural holding depreciated by 1.39% to an average of 2.84 leva per share.
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