BUCHAREST (Romania), October 12 (SeeNews) – The Bucharest bourse indices ended mostly higher on Monday with turnover jumping nearly 10 times on heavy trading with government securities, brokers said.
The blue-chip BET index of the Bucharest Stock Exchange, BVB, added 0.81% to 4,404.61 points. The BET-FI index, which tracks the country's five regional investment funds, the SIFs, was the only index to lose ground, shedding 1.39% to 23,098.39 points.
The composite BET-C index gained 1.82% to 2,690.86 and the ROTX index of Romania's 15 most liquid stocks, a joint index of the BVB and the Vienna Stock Exchange, ticked 1.15% higher to 9,320.77.
“The market has been lacking direction in the last week or so. Most investors are anticipating the vote on the no-confidence motion tomorrow and what would happen afterwards. In case the government falls, in my opinion, there will definitely be a serious correction but only in the short term,” one broker told SeeNews.
Romania’s parliament is due to vote on Tuesday on a no-confidence motion against the country’s minority government.
“As for the heavier trading with securities, people are obviously looking for investment in fixed-income instruments,” the broker added.
BVB's turnover surged to 213 million lei ($73.4 million/49.7 million euro), including 196.8 million lei worth of bonds, from 23.5 million lei on Friday. The number of traded shares decreased to 33.4 million compared to 50.1 million on Friday.
SIF 5 Oltenia ended unchanged at 1.17 lei in the day's largest turnover of 3.1 million lei. Blue-chip bank BRD climbed 2.44% to 12.6 lei on deals worth 2.7 million lei, Monday’s second largest turnover. Its peer blue chip Banca Transilvania added 0.62% to 1.62 lei in the session’s third largest turnover of 1.9 million lei.
SIF 2 Moldova was down 1.87% to 1.05 lei in 1.6 million lei turnover, while SIF 1 Banat Crisana dipped 0.89% to 1.11 lei in 987,000 lei turnover.
Blue-chip oil refinery Rompetrol Rafinare advanced 2.65% to 0.0619 lei in 778,000 lei turnover. Blue-chip oil and gas group Petrom rose 1.56% to 0.261 lei in a turnover of 715,000 lei, while blue-chip oil and gas company Dafora sank 4.59% to 0.104 lei in deals worth 269,000 lei.
The BET-XT index, which tracks the 25 most liquid companies on the bourse, including the SIFs, was up 0.67% to 439.58 points. The BET-NG, which includes companies from the energy sector and utilities, gained 0.74% to 593.98 points.
Rasdaq-C, the composite index of the over-the-counter market RASDAQ, edged up 0.16% to 2,202.01. Turnover on the RASDAQ rose to 1.6 million lei from 1.2 million lei on Friday.
(1 euro = 4.2849 Romanian lei)
Rompetrol Rafinare SA is among the biggest companies in SEE, for more reference take a look at Top 100 companies