The first session of the Stock Exchange has usually ended with an average 4.3% increase of the BET index and of 7.1% for BET-FI index over the last five years.
Brokers expect the Bucharest Stock Exchange to repeat the same positive trend of the last few years in its first trading session, as buyers are traditionally more present on the market than sellers in the first few days.
Today is the last day of trading on the Bucharest Stock Exchange and as such the last day when investors can buy shares to benefit from a potential increase of the market in the first session of 2008.
The decline of the last few sessions, especially that of SIF shares, could be followed by a market rebound in the first session in 2008, if the heavy sale pressure of the last few days vanishes.
On the other hand, some brokers warn that the trend of the Stock Exchange in the first few days of 2008 could also be influenced by how the international stock markets closed 2007, as the bullish sentiment at the beginning of the year is not as strong there as it was over the past years.
"I believe next year will start on the same positive note as the last few years. I expect significant increases in the first few days of trading, as the pressure to sell of the last few days should go away. There usually aren't many sellers on the market in the first few trading sessions, which his dominated by buyers," says Rares Nilas, chief executive of BT Securities.
The year 2007 started with a 5% surge of BET on the Stock Exchange in the first day, while SIFs gained 8.6% on the average.
In 2006, first-day increases were 3.5% for BET and 6.1% for BET-FI, while in 2005, the market started with a 6% rise of BET and a 10% rise of BET-FI.
"I believe the Stock Exchange will repeat the pattern of the last few years and start on the rise. I expect an about 10% gain in the fir
