“Growth was explosive. People virtually entered the market with their eyes closed, because it was clearly an excellent moment for gain. It is very hard to tell an investor not to buy when the stock market is subject to consecutive days of growth. At such times, it is important to participate in the market. If an investor experiences three days of 10 percent growth, this will be very good for his portfolio, but if he misses out on three such days, he will be very unhappy,” said Mihai Chisu, IFB Finwest broker.
The BET index of the ten most liquid shares closed up 1.6 percent, while the SIFs had the top gains, at an average 7.2 percent. BVB liquidity amounted to RON 44.2 million (€10.6 mln). Banca Transilvania shares appreciated 3.1 percent, and brokers believe that lows were reached, at least in the financial and banking sectors.
“It is very likely that in some sectors, such as financial-banking, lows were reached, and some part of the rallying of the past few weeks will continue. I do not believe that this is the end of the stock exchange’s woes, and we will witness new corrections of the market, albeit not as low as before,” said Florin Ilie, Capital Market Manager of ING Bank Romania.
