February 6 (SeeNews) - Bucharest stock indices fell on Tuesday amid global markets sell-off, Bucharest Stock Exchange (BVB) data showed.
As at 15:00 CET on Tuesday, the blue-chip BET index of the Bucharest Stock Exchange [BSE:BVB] has fallen 3.64%, extending its loss from 2.49% in morning trade. The drop followed a sharp drop on Wall Street which sparked a global sell-off.
A Romanian stock broker told SeeNews on Tuesday that the response of the Bucharest bourse to the slump on Wall Street shows that there is no panic among investors but warned that the market remains unpredictable.
"I think that the local market has responded in an excellent way given the international context. A drop of only 2%-3% at this hour shows that there is no panic yet among investors. It could have been worse," Simion Tihon, equity trader and analyst at Prime Transaction, told SeeNews in an e-mailed statement.
At the moment, given the voltage in the market, anything can happen, Tihon added. He noted that this is a good time for investors to analyze their portfolio and have a stock/cash ratio according to their own risk profile.
In the U.S., the Dow Jones Industrial Average index plunged 4.60% to close at 24,345 points on Monday on concerns of faster inflation and higher interest rates. Selling spread to Asian and European markets on Tuesday.
The total equity turnover of the BVB rose to 76.3 million lei ($20.3 million/16.4 million euro) on Tuesday from 33.3 million lei on Monday.
Lender Banca Transilvania [BSE:TLV] was trading 1.78% lower to 2.2650 lei in the day’s largest turnover of 19.3 million lei.
Lender BRD Societe Generale [BSE: BRD] lost 1.84% to 12.78 lei in the day's second largest turnover of 13.33 million lei.
Natural gas producer Romgaz [BSE: SNG] fell 1.80% to 32.8 in the day's third largest turnover of 12.7 million lei.
Details follow:
Index |
Closing Value |
Daily Change |
BET |
8,007.41 |
-2.13% |
BET-TR |
10,767.87 |
-2.13% |
BET-FI |
41,061.64 |
-2.37% |
BETPlus |
1,200.93 |
-2.15% |
BET-NG |
679.84 |
-2.07% |
BET-XT |
759.33 |
-2.33% |
BET-XT-TR |
1,039.25 |
-2.33% |
BET-BK |
1,702.63 |
-2.56% |
ROTX |
16,447.66 |
-2.09% |
BET Total Return index (BET-TR) is a free float weighted index of the 13 most traded companies listed on the regulated market and is adjusted to also reflect the dividends paid by constituent companies.
BET-BK is a free float weighted capitalization index of the most liquid 25 companies listed on the regulated market.
BET Plus is a free float market capitalization weighted index tracking 34 companies listed on BVB’s regulated market except the financial investment companies, that meet the minimum eligibility criteria, which refer to liquidity and the value of shares in free float.
BET-FI tracks the SIFs and property restitution fund Fondul Proprietatea.
BET-NG includes companies from the energy sector and utilities.
BET-XT is a blue chip index and reflects the price evolution of the most liquid 25 shares traded on the regulated market, including the SIFs.
BET-XT-TR reflects the price performance of the top 25 most traded Romanian companies, as well as their gross dividends and cash distributions.
ROTX tracks Romania's nine most liquid stocks. It is a joint index of the Bucharest bourse and the Vienna Stock Exchange.
(1 euro = 4.6423 lei)
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