SIF Transilvania traded down 15% at around 10:20 local time (GMT0720), and the stock exchange extended the maximum variation limit to make room for even larger decreases in the ex-dividend date. The investment fund announced a record dividend for 2011, accounting for some 20% of Tuesday closing price.
Also in the ex-dividend date, SIF Banat-Crisana was down 11.1%. Fondul Proprietatea (FP.RO) traded down 3.2%, and the BET-FI index was down a whopping 7.4%.
The rest of the market was also significantly down from Tuesday closing levels. BET, which tracks the top-ten most traded stocks, was down 2.5%, while composite index BET-C was falling 2.2%.
Influenced by the SIFs fall, the extended blue-chip index BET-XT was down 4.1%. The energy sector posted a milder decline, with BET-NG index down 1.1%, supported by a 10% increase of Dafora (DAFR.RO) shares.
Oltchim (OLT.RO) was also among the few issuers in positive territory, with its stocks up 8.6%. Azomures (AZO.RO) traded flat, while BRD (BRD.RO) was falling 5.6%.
The traded values were reduced, however, of only 1 million lei (EUR0.22 million) at around 10:20. (EUR1=RON4.4411)