I expect the downward trend to continue on the Bulgarian Stock Exchange (BSE) following the declines of the U.S. And Asian markets. The Bulgarian capital market has shown no correlation to the international markets in the recent months, apart from the massive sell-offs, Daniel Dimitrov, portfolio manager at Real Finance Asste Management told Profit.bg.

Trade on BSE in recent weeks, however, is in line with the international markets. The lack of major news results in sluggish trade and small range. The SOFIX will not drop to under 350 points today as the decline of the US and Asian markets is less than 1%, according to Dimitrov.

The five sessions of modest advances for the SOFIX were followed by four sessions in negative territory. The lack of clear direction on the international markets is the reason for Bulgarian investors to remain inactive. There are no longer massive sell-offs but the demand is also limited, Dimitrov said.

If there is no change in international market news, it is very likely that we will not see considerable stock price changes until the end of the year on BSE, according to Dimitrov.

The SOFIX and BG40 ended yesterday's session in negative territory. The blu-chip index slipped by 0.51%, to 359.46 points. The BG40 skidded 0.43% lower, to 106.54 points.

* The article is not a recommendation for buying/selling stock