The blue-chip BET index of the Bucharest Stock Exchange, BVB, rose 8.49% to 3,458.38. The BET-FI index, which tracks Romania’s five regionally-defined investment funds, the SIFs, jumped 10.9% to 16,857.42 points.
The composite BET-C index gained 7.95% to 2,596.43. The ROTX index of Romania's 15 most liquid stocks, a joint index of the BVB and the Vienna Stock Exchange, went 6.05% up to 8,249.00.
“Having in mind the unprecedented falls last week, it’s normal to have a recovery and it was even stronger than expected. Now it’s interesting to see if it will be sustained or not, but again it’s up to the global developments,” one broker told SeeNews.
“I, personally, hope the market will stabilise in order to start gaining some healthy and solid ground.”
European and Asian markets rallied on Monday, and the U.S. market opened sharply up as governments in those countries have agreed over measures to support their banking systems. Global stocks, including those in southeastern Europe, lost serious ground last week prompted by concerns over the spread of the global financial crisis.
BVB’s turnover rose to 26.1 million lei from 21.4 million lei on Friday. The number of shares traded on Monday increased to 62.1 million from 36.5 million.
SIF 5 Oltenia appreciated by 7.5% to 0.86 lei in the day’s highest turnover of 4.5 million lei. Blue-chip oil and gas group Petrom soared by 10.19% to 0.238 lei in the day's second largest turnover of 3.9 million lei. SIF 2 Moldova gained 10.29% to 0.75 lei in the day's third highest turnover of 3.8 million lei.
Blue-chip bank BRD rocketed by 14.86% to 8.5 lei on deals worth 2.4 million euro, while blue-chip brokerage SSIF Broker soared by 14.97% to 0.215 lei in 611,000 lei turnover.
Romania’s largest fertilizer maker Azomures was among the few stocks that fell on Monday, losing 9.16% to 0.228 lei on 759,000 turnover. The broker could not explain the sharp fall.
The BET-XT index, which tracks the 25 most liquid blue-chip companies, including the SIFs, ended 8.4% higher at 340.73 points. The BET-NG, which includes companies from the energy sector and utilities, jumped by 10.52% to 461.66.
Rasdaq-C, the composite index of the RASDAQ over-the-counter market, added 1.05% to 2,523.20. Turnover on RASDAQ fell to 1.8 million lei from 2.1 million lei on Friday.
The Romanian stock market has been losing ground in the past month, dragged down by panic selling on the international markets following bank collapses in the U.S. and Europe.
(1 euro = 3.8426 Romanian lei)
