If you check out the website of the Bulgarian Stock Exchange and have a look at indexes today, everything will seem normal at first glance, even though indexes are falling.

SOFIX drops 0.2% and the broad indicator BG40 loses 1.17%, which is not anything unusual.

Behind these “misleading” figures, however, is the new methodology of index calculation, based on the price of the final transaction of components.

Most investors would actually describe today's session as nerve-racking. It started with massive cashing on almost all positions, as a result of which indexes fell more than 4% in an instant.

Only time can tell whether this is just a pre-Christmas selling, or a dangerous tendency.

A lot of investors were worried today that they might soon get a Christmas margin call from their brokers.

Luckily, the market stabilized in the second half of the trade session. Most blue chips managed to rebound to a certain extent, and small-volume transactions at high prices made declines not very serious for indexes.

Orgachim was one of the biggest decliners today. 265 shares changed hands at an average of 597.05 leva, or 5% down from opening. The lowest price on the position was 558 leva.

Monbat suffered a serious loss of 4.7% to an average of 27.7 leva, at a significant turnover of 45,000 shares.

Doverie United Holding dropped 5.1% 13.31 leva, and Eurohold fell 2.9% to 6.39 leva at a turnover of more than 100,000 shares.

Aroma lost nearly 5%, Biovet lost 9%, and Euroins – 3.7%. Hydraulic Elements and Systems fell a whole 12.4%.

Energoremont Holding was one of the few rising stocks today, adding 15.4% at a turnover of 4,000 shares.