BUCHAREST (Romania), October 27 (SeeNews) – Romanian share indices dropped on Tuesday, dragged down by investor pessimism induced by the political uncertainty in the country, brokers said.
The blue-chip BET index of the Bucharest Stock Exchange, BVB, fell 2.6% to 4,522.17 points. The BET-FI index, which tracks the country's five regional investment funds, the SIFs, dropped 3.72% to 21,993.10 points.
The composite BET-C index dipped 3.11% to 2,699.68 and the ROTX index of Romania's 15 most liquid stocks, a joint index of the BVB and the Vienna Stock Exchange, slid 2.79% to 9,525.84.
"The market opened two-three percent weaker and once the BET-FI went below its previous minimum the falls couldn't be stopped. The atmosphere is quite pessimistic due to what's going on the Romanian political scene. It seems that we will not have an operational government soon," one broker told SeeNews.
Romania is currently governed by an interim cabinet. Prime minister-designate Lucian Croitoru unveiled last week a new cabinet line-up, which he will present to Parliament for approval next week.
BVB's turnover doubled to 65.6 million lei ($22.7 million/15.3 million euro), including 34 million lei worth of bonds, from 32.25 million lei on Monday. The number of traded shares increased to 48.55 million from 18.3 million on Monday.
SIF 5 Oltenia ended down 3.54% at 1.09 lei in the day's largest turnover of 6.4 million lei. SIF 2 Moldova shed 3.88% to 0.99 lei on deals worth 4.1 million lei, Tuesday’s second largest turnover. SIF 3 Transilvania slipped 2.94% to 0.66 lei the session’s third largest turnover of 3.0 million lei
Blue-chip bank BRD slumped 4.62% to 12.4 lei in 2.95 million lei turnover, while its blue-chip peer Banca Transilvania ended unchanged at 1.8 lei in 2.8 million lei turnover.
SIF 4 Muntenia lost 4.83% to 0.69 lei in deals worth 1.6 million lei, and SIF 1 Banat Crisana ended 3.64% lower at 1.06 lei in deals worth 1.5 million lei.
Blue-chip oil and gas group OMV Petrom slid 3.17% to 0.275 lei in 791,000 on lei turnover, and oil and gas company Dafora sank 4.55% to 0.105 lei in 471,000 turnover
The BET-XT index, which tracks the 25 most liquid companies on the bourse, including the SIFs, declined 3.04% to 440.61 points. The BET-NG, which includes companies from the energy sector and utilities, was down 2.6% to 600.65 points.
Rasdaq-C, the composite index of the over-the-counter market RASDAQ, shed 0.95% to 2,221.70. Turnover on the RASDAQ doubled to 4.4 million lei from 2.2 million lei on Monday.
(1 euro = 4.291 Romanian lei)
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