SOFIA (Bulgaria), March 4 (SeeNews) - Bulgarian stock indices ended mostly lower on Tuesday as sellers were more active than buyers and in a portfolio-restructuring mood, brokers said.
The blue-chip SOFIX index, including the 16 most liquid stocks on the Bulgarian stock exchange, fell 3.01% to 1,386.51 points and the broader BG 40 index tracking the 40 most traded shares on the Sofia bourse lost 2.34% to 400.41 points.
"There is more or less restructuring of portfolios in anticipation of the financial statements due to be released next month, after which we could tell what will be the trend for the whole year," Nikolay Vitliemov, a broker with brokerage Varchev Finance told SeeNews.
"It is also possible that foreign capitals are exiting positions," Vitliemov said.
The most liquid companies were the biggest losers, he said. The country's largest fuel retailer Petrol and drug maker Sopharma, both part of the SOFIX index, and industrial group Synergon Holding, part of the broader BG 40 index, were among the top losers on Tuesday, Vitliemov added.
Shares in Petrol lost 13.54% to 5.17 levs ($4.0/2.6 euro) in a volume of 40,833 stocks. Sopharma stocks ended 4.4% lower at 7.17 levs as 11,873 stocks changed hands. Shares in Synergon Holding fell 1.54% to 10.83 levs as 32,439 stocks were traded.
"There is no particular reason for the drop. The income statements of the companies were not bad, they were satisfactory but not exceeding expectations," Vitliemov said.
Ninety-one shares fell, 38 gained and 13 closed unchanged on Tuesday.
BSE’s total turnover, excluding block and other pre-agreed deals, fell to 10.2 million levs from 10.9 million levs on Friday. The bourse was closed on Monday, March 3 -Bulgaria's Liberation Day.
The BG TotalReturn30 (BG TR30) index, in which companies with a free float of at least 10% have equal weight, ended 2.84% lower at 886.38 points. The BG-REIT index tracking the performance of real estate investment trusts, was up by 0.03% to 101.15 points.
The Dnevnik 20 index, calculated by local Business daily Dnevnik from the share prices of the 20 leading companies in terms of liquidity and market capitalisation, lost 1.81% to 204.31 points.
(1 euro = 1.95583 Bulgarian levs)
Search for: market |
Search for: share |
Search for: index |
Search for: indices |
Search for: exchange |
Search for: broker |
Search for: Bulgaria |
 | Business SEE TOP 100 - the ranking of the largest companies in Southeast Europe (SEE). SEE TOP 100 is the only ranking of the biggest companies and banks in SEE and a comprehensive, in-depth guide to the economies of the emerging markets of SEE. |
Terms & ConditionsPrivacyCopyrightPublished by All Data Processing. All rights reserved. Created by Ladger.
