Yesterday’s session of Bucharest Stock Exchange followed the same trend as last week, marked by massive slumps and trading shut down for approximately a half an hour. Pressure on sale and investors’ panic are still overpowering the Romanian stock market.
BET index lost 7.8% on a market whereof FIC and energy sectors had the worst decline, and trading has been suspended in the early moments, after a massive fall.
“In the first part, before the shut down, the external markets fell at an alarming pace. Meanwhile, when trading session at BSE was suspended, the foreign stock markets recovered, and this is why the slumps tempered down at BSE. Unfortunately, the pressure on sale is still dominating, and the recoveries don’t have the required strength to steady”, said Adrian Barbulescu, analyst at Prime Transaction.
BET-C dropped 8.28% down to 1,949.42 units. BET-FI indice slumped 9.81% while ROTX slid 6.66% down to 6,067.73 points. BET-XT lost 9.97% down to 243.66 points, and BET-NG went 10.95% down to 303.03% points.
“Yesterday’s evolution at BSE was linked to events on international markets. The players are still watching closely the evolutions of international stock markets and this means similar paths but with broader variations caused by liquidity shortages. This resulted in 10% declines almost during the entire day at primary issuers and transactions worth less than 5 million euros on the primary market, much below last year’s figures,” stated Florin Irmin, broker at intercapital Invest.
Collapse of BET indice led to a new halt in trading
Bucharest Stock Exchange decided to shut down trading for a half an hour in early moments of the session due to the slump down to the bottom variation limit of BET indice.
“We suspended the stock exchange due to same reasons as Friday, as BET index reached to a 13% decline, excluding Banca
