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Restructuring of institutional investors’ portfolios boosts Sofia bourse turnover – analyst

Restructuring of institutional investors’ portfolios boosts Sofia bourse turnover – analyst hxdbzxy/Shutterstock.com

SOFIA (Bulgaria), August 9 (SeeNews) – Restructuring of institutional investors’ portfolios is responsible for the unusually high daily trading turnover on the Bulgarian Stock Exchange in the period August 2 – August 4, Tsvetoslav Tsachev, chief investment consultant at local brokerage Elana Trading, told SeeNews on Wednesday.

Separately, some large transactions between Bulgarian and international investors had been concluded during the period, Tsvetoslav Tsachev told SeeNews in an e-mailed statement.

Total daily trading turnover on the BSE amounted to 13 million levs ($7.8 million/6.6 million euro) on August 2, 32.7 million levs on August 3 and 52.4 million levs on August 4, bourse data showed.

Trading in shares of Balkan and Sea Properties [BUL:5H4], Galata Investment Company [BUL:GTH], Holding Nov Vek [BUL:6N3], Himsnab [BUL:58E], Holding Varna [BUL:5V2] and Velgraf Asset Management [BUL:1VX] generated the bulk of turnover during the three consecutive sessions.

The average daily turnover on the regulated market of the BSE  amounted to 1.87 million levs during the second quarter of 2017, according to data from the bourse’s quarterly statistical report.

(1 euro = 1.95583 levs)

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