November 20 (SeeNews) - The Bulgarian Stock Exchange's benchmark SOFIX index took a 0.96% dive to its lowest close since December 2016, as global equity markets tumbled on Tuesday.
U.S. stocks fell sharply, as each of the Dow Jones Industrial Average, the S&P 500 and the Nasdaq Composite indices traded over 1% down at the time the Sofia bourse closed on Tuesday. The stocks extended their rout this week mostly on the back of a steep sell-off in technology and internet-related companies.
Major European benchmarks also took a hit on Tuesday, as the London Stock Exchange, Frankfurt Stock Exchange and Euronext Paris all saw their blue-chip indices trade some 1% lower near the end of their respective trading sessions.
The SOFIX shedded 5.70 points to and end value of 586.98 points on Tuesday, as Central Cooperative Bank (CCB) [BUL:4CF] extended its rout since November 12, when the European Central Bank (ECB) said it will undertake a comprehensive assessment of the lender, as part of the process of establishing close cooperation on supervision with Bulgaria's central bank.
CCB shares lost 3.97% to 1.45 levs on Tuesday, growing their losses since the ECB announcement to over 7%.
CCB was followed by hydraulic equipment manufacturer M+S Hydraulic [BUL:5MH] and drug maker Sopharma [BUL:3JR], which lost 2.53% and 2.15%, respectively.
Software developer Sirma Group Holding [BUL:SKK] was the only blue-chip gainer on Tuesday, extending its winning streak to nine consecutive sessions. Sirma Group Holding shares appreciated 1.05% to 0.96 levs on Tuesday, growing the company's gains to 11.9% over the nine sessions.
Last week, Sirma Group Holding announced that its consolidated net profit rose to 3.3 million levs in the first nine months of the year from 1.7 million levs in the same period of 2017, following a rise in revenue.
The wider BGBX40 index, which tracks the 40 most traded shares on the Sofia bourse, lost 1.47% to 114.27 points, hit by a 10.45% drop in the share price of aluminium products manufacturer Alcomet [BUL:6AM].
The BGREIT index, which tracks the performance of real estate investment trusts (REITs), fell 0.36% to 116.75 points on the back of a 1.58% drop in Bulgarian Real Estate Fund (BREF) REIT [BUL:5BU] shares.
Advance Terrafund REIT [BUL:6A6] - the biggest component of the index in terms of market capitalisation - also saw its share price decline, by 0.26% to 1.95 levs.
The BGTR30 index, in which companies with a free float of at least 10% have equal weight, closed 1.45% lower at 487.76 points, as Industrial Capital Holding took a 6.06% dive.
(1 euro = 1.95583 levs)