Sofia Stock Exchange’s premier index continues losing streak as turnover drops 40%

SOFIA (Bulgaria), September 8 (SeeNews) — Half of the Bulgarian Stock Exchange (BSE) indices closed Thursday’s session lower, with blue-chip SOFIX recording a four-day streak of declines after falling 0, 13% to 606.67 points.

The drop in SOFIX is mainly due to a 1.07% drop in Sopharma Trading [BUL:SFT] at 5.54 levs and an accompanying slide of 0.89% in its parent company Sopharma [BUL:SFA] at 4.44 levs.

Earlier today, Sopharma announced that it had increased its stake in Sopharma Trading to 85%.

The drugmaker was also BSE’s most traded stock that day, generating around 1.51 million levs in revenue.

Total turnover on the main market of the Sofia Stock Exchange fell to 1.85 million levs ($942,560/945,890 euros) on Thursday from 3.07 million levs on Wednesday.

Hold Varna [BUL:HVAR] was the biggest top earner on the third trading day of the week following the bank holiday on Tuesday. the holding company’s share gained 0.94% to 43.00 levs.

The losses of Sopharma and its subsidiary did not, however, drag down the BGTR30 index, in which companies with a free float of at least 10% have an equal weight. The BGTR30 closed up 0.05% at 732.33 points, supported by a 1.10% rise in Sopharma Properties [BUL:SFI] at 9.20 levs and a rise of 1.00% from Elana AgroCredit [BUL:EAC] at 1.01 leva.

The broader BGBX40 index ended only in the red, down 0.01% to 140.17 points, as a 3.14% rise in software firm Sirma Group Holding [BUL:SGH] at 0.82 levs was not enough to offset a 1.85% drop in Sofia Commerce-Pawn Brokerage [BUL:SCOM] and a 1.10% decline in civil engineering company Trace Group Hold [BUL:T57].

BGREIT, which tracks seven real estate investment trusts, was the other index to end in green territory, rising 0.07% to 182.57 points, according to Advance TerraFund REIT. [BUL:ATER] rose slightly by 0.34% to 2.97 levs.

(1 euro = 1.95583 levs)

Comments are closed.