"This is a historic day for modern stock market that we will never forget” specialists on equity market said, after BSE decided to halt trading session after 68 minutes of trading and over 10% slumps in indexes. Some specialists surveyed by Wall-Street forecast a rebound, while others say stock market evolution will be tightly linked to foreign markets.
Market regulators decided to shut down trading session yesterday, at 11:08. At that time, BET indice lost 9.25%, BET-C 10.68%, ad BET-FI neared to bottom limit, with 14.64% plunge. BET-XT slid 11.05% and BET-NG dropped 10.26%.
“There is surely a show at Bucharest Stock Exchange, but not necessarily a pleasant one. I don’t think indexes have ever had such big volatilities. This day is a day to remember”, said Adrian Barbulescu, analyst at Prime Transaction.
After regulator’s decision to suspend trading session, president of BSE announced in a media briefing that the measure is well-grounded and aims at giving time for investors to reconsider their investments.
Financial consultant, Bogdan Baltazar said this evolution mirrors the “whirly government, visible through those regulations, through wages raises and threats of state employees”.
“BSE did what it was written in the regulation, shut down trading session when BET and BET-FI neared to bottom lows. Tomorrow (t.n – today) the stock exchange will recover, regardless to evolution of foreign stock markets,” Baltazar added.
Stock market in Sibiu halted transactions with derivatives on stocks right after the same measure had been adopted by Bucharest Stock Exchange, although derivatives on foreign currency exchange rate were still on, said Darius Cipariu, deputy manager at Sibex.
Late yesterday, after panic faded out, and things tempered down, brokers, managers and analysts said all together it was a day to remember.
“It h
