Foreigners bring Stock Exchange down: SIFs lose another 8%
The pressure of sellers intensified yesterday on the Bucharest
Stock Exchange, bringing share prices significantly down, although
foreign markets were calm and remained on the rise almost
throughout the entire day.
The BET-FI index of SIFs (Financial Investment Companies) closed
down 7.9%, reaching a lower level than at the beginning of the
year, with decline amounting to as much as 10% over the course of
the session. The BET index also lost over 6.7%, and transactions
once again exceeded 10 million euros.
"Considering how the market looks - an over 13 million-euro volume
of transactions, it is definitely an investment fund that exited
the Romanian market. A 4-5 million-euro exit was immediately felt
on a market low on liquidity, such as the local one, which is why
such index quotes were recorded," said Rares Nilas, manager of BT
Securities.
The top decliner was SIF Oltenia (SIF5), which lost 9.5% in the
wake of transactions worth 4.75 million euros, while other major
declines were recorded by Transgaz, and Transelectrica, although
their defensive profile should have protected them from corrections
of 9% such as those recorded yesterday.