Brokers: It's Still Summer on BSE

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Brokers: It's Still Summer on BSE

Market experts were unanimous this Monday that the strongest sentiment on BSE this week will be the summer mood.

The consolidated reports and international news will be the factors able to influence investors decisions.

Geno Tonev, portfolio manager, Ug Market Fund Management

I do not expect very active trade in the following five days as we are entering the peak of the summer vacations season.

There will be no sharp movements for indexes in spite of some opinions that the buyers are back on BSE. The only factors that will be influencing trade are the consolidated reports and international news.

But as corporations usually announce financial data at the end of the month, I do not expect anything important to happen during the week.

Also, it seems that the “international” factor has lost its direct impact on BSE. Only very serious events in Europe and the US may change the mood on BSE.

Plamen Peychev, investment consultant, FK Ever

As the end of the summer is approaching we may see turnovers on some blue chips positions rising.

The introduction of the margin and short sales option on BSE last week did nor bring to any significant changes, as most intermediaries are in a wait-and-see position.

Whether accidentally or due to speculations, last week we witnesses an increased interest in the eight stocks that meet the liquidity criteria for margin and short sales and this is very likely to be the case this week as well.

Investors' interest may shift to holding companies as those are about to post consolidated H1 results by the end of the month.

Angel Dikov, Analysis and Prognoses Director, Somoni Asset Management Jsc

Indexes climbed slightly last week and the market consolidated in a narrow range of 1021-1040 points for the SOFIX index. It is still not clear whether what we saw last month was a mid-term low or just one more plunge during the correction that has been continuing for nine months now.

I expect slow trade this week and slight advances for indexes.

There aren't many buyers, even though most public companies posted quite convincing H1 reports. The sharp decline in oil prices and the recent rallies of some leading stock indexes did not bring much enthusiasm for local buyers.

The several positive sessions we saw recently were definitely a breath of fresh air for investors. If we see more such sessions, this will boost optimism and hopes for reversing the trend.

Reversing the trend, however, is impossible without an inflow of fresh capital. And with the ongoing international crisis, the negative political news and local scandals I don't see such coming.

This article is analytical and expresses the personal opinions of the people quoted. This is not a recommendation for buying/selling stock.

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