Ljubljana Bourse Suffers Record Fall, Bounceback Seen Next Week

After reaching their lowest levels in the last few years on Wednesday, the blue-chip SBITOP index of the Ljubljana Stock Exchange (LJSE) fell further by 8.09% to 903.97 points and the broader 15-share SBI20 index sank 7.96% to 3,965.57.

“The LJSE suffered the biggest fall in its history. The reason is the panic selling by small investors,” the head of the brokerage department of local Abanka Vipa, Tomislav Apollonio, told SeeNews.

Fear gripped small investors, who sold their equity at any price, he added.

“The market is searching for the bottom where buyers will come up,” Apollonio said. “I expect a rebound next week, it is unlikely to happen this week,” he added.

Each of the 10 blue chips lost value on Thursday. Heavyweight drug maker Krka was the top decliner among them, sinking 9.58% to an average price of 50.61 euro ($63) in the day’s highest turnover of 3.3 million euro.

Slovenia's largest insurer Zavarovalnica Triglav followed, plunging 9.50% to 17.62 euro on some 91,000 euro of turnover.

LJSE's total turnover rose to 5.82 million euro on Thursday from 3.98 million euro on Wednesday.

($ = 0.7981 euro)