Bulgarian stocks book best Q1 since the start of 2014

The main index of Bulgarian stocks SOFIX added 8.11% q/q in 1Q17, best performance since the start of 2014. The index booked fourth consecutive quarter on the upside adding 43% since the last down quarter – 3Q16.

Generic drug pharma company Sopharma (3JR BU) contributed most to SOFIX’ performance over the quarter, adding 31% q/q itself. First Investment Bank (5F4 BU) was first runner up in terms of contribution to SOFIX’ performance, but was best standalone performer with 46% appreciation over the quarter.

Bulgarian stocks turnover 239% up only in March

Bulgarian Stock Exchange wrapped up March 2017 239% on the upside by turnover to BGN 40 m., according to investor.bg publication. In March 2016 the local stock market turnover was BGN 11,8 m.

Number of deals have also registered progress – up 126% in March to 8 143 deals. This is a record-breaking month after the last peak of 16 396 in June 2014.

Top 10 stocks by deals in March were Chimimport (801), Sopharma (679), Eurohold (560), First Investment Bank (395), CCB (336), Advance Terrafund REIT (309), Industrial Holding Bulgaria (303), Alcomet (292), Monbat (291) and Trace Group Hold (270).

Top 5 brokers

Top 5 brokers by number of deals in March are: Karoll (4 633), followed by ELANA Trading with 2 424 deals, BenchMark Finance is next with 2 132, FIBH follows with 1 380 and Capman with 925.

Top 5 by accumulated deals in Q1 2017 look like that: Karoll (11 501), ELANA Trading (5 695), Benchmark Finance (4 958), FIBH (2 856), Capman (2 198).

One of the main driver events for increased turnover in March 2017 was rebalancing of SOFIX effective as of 20 March. Latest SOFIX rebalancing entailed adding another industrial stock – Alcomet (6AM BU) as well as Eurohold Bulgaria (4EH BU). They replaced Industrial Holding Bulgaria (4ID BU) and Trace Group Hold (T57 BU).

On 10 March 2017 SOFIX reached 8.4 year high closing at 624.91 points.

Check the latest ELANA Trading equity research reports