The pressure of sellers intensified yesterday on the BucharestStock Exchange, bringing share prices significantly down, althoughforeign markets were calm and remained on the rise almostthroughout the entire day.
The BET-FI index of SIFs (Financial Investment Companies) closeddown 7.9%, reaching a lower level than at the beginning of theyear, with decline amounting to as much as 10% over the course ofthe session. The BET index also lost over 6.7%, and transactionsonce again exceeded 10 million euros.
"Considering how the market looks - an over 13 million-euro volumeof transactions, it is definitely an investment fund that exitedthe Romanian market. A 4-5 million-euro exit was immediately felton a market low on liquidity, such as the local one, which is whysuch index quotes were recorded," said Rares Nilas, manager of BTSecurities.
The top decliner was SIF Oltenia (SIF5), which lost 9.5% in thewake of transactions worth 4.75 million euros, while other majordeclines were recorded by Transgaz, and Transelectrica, althoughtheir defensive profile should have protected them from correctionsof 9% such as those recorded yesterday.
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