Amid recent weeks’ declines, the Bucharest Stock Exchange suffered a drop of 11% since the start of the year.
Asked by ZF whether the bourse would witness further corrections in the following weeks, Mukul Pal said: “We expect the top market indices to hit support and bottom in early September. Technically, a selling climax is an accumulate and buy opportunity. Though corrections are part of market dynamics, we do not expect further multi-month corrections in the next two or three years.”
In April 2010, in a ZF analysis on the trend of the Bucharest Stock Exchange (BVB), Mukul Pal was the only analyst who forecast a 50% decline in SIF stocks.