SOFIA (Bulgaria), March 20 (SeeNews) - All four share indices on the stock market in Sofia lost ground in higher turnover on Thursday, shadowing negaive sentiment on international markets, brokers said.
The SOFIX index, which includes the 19 most liquid stocks on the Bulgarian Stock exchange (BSE), lost 3.62% to 1,230.37 points. The broad BG 40 index, which tracks the 40 most liquid companies on the bourse, ended 3.93% lower at 347.95.
"There is no a particular reason. Bulgaria cannot remain isolated from the trends on the global financial markets," Blagovest Krachev, broker at Karoll brokerage, told SeeNews.
"Currently there are no indications that the trend could be reversed soon," he added.
market turbulence in the U.S. in the past weeks and the collapse of Bear Stearns have their impact on the Bulgarian market, he said and added: "The bad thing for us is that we don't see movements in the opposite direction, upwards, here rises are used for exiting some positions and still there are many sellers."
Thursday's trading was relatively intensive, volumes were not very big but price changes were relatively high, Krachev said.
Blue-chip drug maker Sopharma lost 6.23% to 6.15 levs ($4.85/3.14 euro) on Thursday in a volume of 48,387 shares.
Industrial conglomerate Chimimport, also part of the SOFIX index, depreciated 7.12% to 8.8 levs as 65,851 stocks changed hands.
Shares in industrial group Doverie Obedinen Holding, included in the broad BG 40 index, edged further down. The stock fell 8.05% to 10.36 levs on Thursday after dropping 6.01% on Wednesday. A total of 3,788 shares in Doverie changed hands on Thursday.
Overall, 107 shares fell, 32 rose and 16 ended flat.
BSE's total turnover, excluding block transactions and other pre-agreed deals, rose to 11.2 million levs ($8.8 million/5.7 million euro) from 8.9 million levs on Wednesday.
BSE's BG TotalReturn30 (BG TR30) index, in which companies with a free float of at least 10% have equal weight, lost 2.86% to 800.8 points. The BG-REIT index tracking the performance of real estate investment trusts, edged 1.48% lower to 96.06 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, depreciated 3.91% to 181.68 points.
(1 euro = 1.95583 Bulgarian levs)
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