Bulgarian Stock Indices Mostly Lose Ground in Higher Turnover

The SOFIX index, which comprises the 20 most liquid shares trading on the Bulgarian Stock Exchange (BSE), fell 1.23% to 480.14 points and the broader BG40 index, which tracks the 40 most traded shares on the bourse, dropped 2.12% to 131.61.

On Tuesday, the SOFIX advanced 1.64% and the BG40 index added 1.96%.

Turnover, excluding block and other pre-agreed deals, jumped to 4.2 million levs ($3.1 million/2.1 million euro) from 1.9 million levs on Tuesday.

Wednesday's volumes were boosted by heavy trade in blue-chip industrial group Chimimport, lender Central Cooperative Bank and industrial holding group Industrial Holding Bulgaria.

A total of 35 stocks rose, 53 dropped and 13 closed unchanged.

Thirteen of the blue chips dropped, two closed flat and the rest gained ground. Fertilizers maker Neochim led decliners, slipping 6.41% to 36.5 levs in a volume of 386 stocks.

The BG-REIT, which tracks the performance of real estate investment trusts, was the only index that gained ground edging 0.65% up to 49.34 points after falling 2.57% the previous day. The BG TotalReturn30 index, in which companies with a free float of at least 10% have equal weight, lost 0.35% to 368.3 points after finishing 2.18% higher on Tuesday.

The Dnevnik 20 index, calculated by local business daily Dnevnik from the share prices of the 20 leading companies in terms of liquidity and market capitalisation, decreased 1.37% to 70.47 points after gaining 2.55% in the previous session.

(1 euro = 1.95583 Bulgarian levs)