Stocks end sharply lower, SIFs suffer worst one-day decline

The total trade value at the equity market climbed significantly from the previous session, to 67.9 million lei (€16.23 million).

BET index that gauges the performance of ten most actively traded stocks at BSE shed 10.96% to 4,365.99 points, while composite BET-C lost 9.97% to 2,658.23 points.

BET-FI index of the five financial investment companies slumped 13.91% to 18,008.26 points, while Vienna’s ROTX dropped 10.03% to 9,193.20 points.

BET-XT index of the 25 most traded stocks finished down 11.92% at 402.37 points, while BET-NG gauge of ten energy stocks moved 9.58% lower to 616.05 points.

“Investors who bought in the last sessions of last week had expected the BET-FI to break the 20,000 points barrier. We’ve seen a broad selloff today and the next barrier for the BET-FI index is likely to be of 15,000 points”, said Adi Lupsan, deputy managing director at Intercapital Invest.

SIF Oltenia shares (BSE:SIF5) have been the most traded today, with 26.57 million lei total trade value, while stock prices fell 16.22% to 1.05 lei. SIF Moldova (BSE:SIF2) suffered 9.23% decline to 11.7 lei, and recorded a total trade value of 4.8 million lei.

In the banking sector, Banca Transilvania (BSE:TLV) closed down 12.08% to 0.255 lei, while Transgaz Medias (BSE:TGN) finished 7.67% lower to 192.5 lei.

Only two stocks posted gains today: UAMT (BSE:UAM) with 7.84% growth to 0.55 lei and Zentiva (BSE:SCD) with 2.22% increase to 0.69 lei.