Last-Hour Rally Prevents Yet Another Slump on BSE
A hectic day for the Bulgarian Stock Exchange (BSE) has come to an end. Аll four indexes were trading considerably lower almost until the end of the session
The broader BG40 index was 4% down end even dropped to under 300 points. The rally in the last hour of trading, however, saved the marked yet another daily slump.
The SOFIX blue-chip index pared down its losses to 0.97% closing at 1,141.47 points, while the BG40 declined by 0.9% to 306.6 points. The BG TR30 index of best performers in total return posted the biggest loss today. The index shed 1.09% to 768.11 points. After wobbling in and out of negative territory the BGREIT index managed to close 2.31% up at 95.93 points.
BGREIT was also the only index to post gains on a weekly basis. The index advanced by 0.42% this week. The three other indexes lost over 4% each this week. The SOFIX index shed 4.44%, the BG40 lost 4.39%, while the BG TR30 ended the week 4.02% lower.
The losses since the beginning of the month are even bigger. The corrections are as follows: SOFIX (-7.96%), BG40 (-11.28%), BG REIT (+0.04%) and BG TR30 (-8.25%).
BSE's trading turnover amounted to 23.39 mln leva today, exceeding yesterday's figure.
A total of 237,813 shares, accounting for 10% of the capital of Katex, changed hands today at an average price of 9.31 leva apiece. The turnover on the position stood at 2.21 mln leva.
The high volumes on the position of Central Cooperative Bank continued today. A total of 417,984 shares in the bank changed hands at an average price of 4.88 leva apiece. The value of the transactions stood at 2.04 mln leva.
A total of 150,000 shares traded hands each in CCB Real Estate Fund and Capital Management on the day. The stocks were sold at an average price of 57.1 leva and 51.8 leva per share, respectively.
Apart from the fluctuations in the indexes, the prevailing negative sentiment and the low turnover, the week will also be remembered with the IPO of Railway Infrastructure – Holding Company, which took place in the period June 25 – 27. The results from the share sale will be announced on June 30 (Monday).
Chugunoleene was the only advancing company within the broader BG40 index this week. The stock appreciated by 4.22% to an average of 22 leva per share.
The price of the stock of Devin and Sparky Eltos remained unchanged this week at an average of 4.9 leva and 11.7 leva per share, respectively.
Two of the stocks included in the calculation of the index posted losses exceeding 10%. Lead & Zinc Complex was the most declining company this week. The price of the stock dropped by 13.22% to an average of 33.75 leva per share. Chimimport's stock depreciated by 11.36% to an average of 8.82 leva per share.
See the table for more details on the performance of the stocks included in the calculation of the BG40 index:
Source: Bulgarian Stock Exchange
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