No January Effect On BSE This Year

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No January Effect On BSE This Year

The capital market optimism at the beginning of a calendar year, known as the January effect seems absent from BSE. Two days before the end of the month all four indexes ended the session on negative territory.

Since January 2 there have been a total of 20 trade sessions on BSE. For that period SOFIX advanced just twice – on January 17 and 25 (the latter was also a record daily gain for the index). So far this year the blue chips index has lost 22% from 1737.42 to 1354.75 points. Today the indicator fell 1.39%.

BG40 lost 1.24% today and closed at 403.34. The broad index has dropped 78% so far this year, from 516.47 to 403.34 points.

BGTR30 and BGREIT remain below their base levels of 1,000 and 100 points, respectively. BGTR30 fell 0.91% to 881.21 today, and BGREIT lost 0.21% to 98.28.

BSE's daily turnover was not very impressing – 8.13 mln leva (4.156 mln euros). The value of block and other agreed transactions came to 1.747 mln leva. 37 out of 121 active issued ended the day on positive territory.

Petrol's advancing series which started mid-December and had temporarily ceased after a few short but sharp price fluctuations, resumed today. Shares of the fuel distributor added 5.68% to an average of 5.77 leva. A total of 120,922 of them changed hands today at prices between 5.47 and 5.999 leva.

Another gainer on the Official Market was Oil and Gas Exploration and Production, which added 0.64% to 10.98 leva at a turnover of 1,024 shares.

Industrial Holding Bulgaria fell below 7 leva again. The stock closed at an average of 7.92 leva, or 3.3% down from opening. The highest bid is currently at 7.9 leva and the lowest at 6.965 leva. Asks are between 9.07 and 8.03 leva. Shares issued in the company's capital increase will be floated on BSE tomorrow.

Central Cooperative Bank shares continue to fall. They lost 3.95% today to an average of 7.05 leva. Bids are between 7.15 and 6.5 leva and asks range from 8.04 to 7.29 leva.

High volumes were transacted on the positions of Chimimport (-0.85% to an average of 10.53 leva), Monbat (-1.75% to 24.71 leva), and Sopharma (-0.83% to 7.17 leva).

It is interesting to take a look at how the market reacted to the announcement of Q4 results. In spite of a convincing report Corporate Commercial Bank declined 0.86% to 86.19 leva. Bids (51 in number) are between 85.57 and 61 leva, and asks (91 of them) range from 86.47 to 110.01 leva.

The bank posted a 3.5 increase in profit to 23.177 mln leva (11.850 mln euros). On December 31 assets stood at 1.77 bln leva (904.986 mln euros), which is a 76.2% hike y/y.

Shares of Neochim fell 5.78% to 59.19 leva after the Dimitrovgrad-based chemical plant announced that profit dipped from 3.577 mln leva to 3.05 mln leva (1.559 mln euros) y/y.

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