The SIFs, skyrocketed as soon as they were back to trading on the Bucharest bourse, at around 11:50 local time (GMT0950) after the Parliament raised the maximum ownership limit in the funds to 5%, from 1%.
As such, at the closing bell, the SIFs had gained 13.55% on average. Immediately after the suspension, the SIFs were up 15%, forcing the stock exchange to raise the priceup limit to 25%, but they later eased gains as the number of sale orders increased.
Concomitantly, the number of trades rose and the SIFs finished among the top traded issuers, surpassed only by investment fund Fondul Proprietatea (FP.RO).
The stock market’s composite index BET-C and main index BET closed up 0.42% and 1.11%, respectively.
BET-FI, the index tracking the SIFs and the Proprietatea fund, jumped 10.06% to 19,943.88, held back by the Proprietatea fund, which only gained 1.2%.
Wider blue-chip index BET-XT gained 3.87% on the day, while the index tracking energy companies, BET-NG, inched up 0.05%.
Trades unfolded on the stock exchange Thursday amounted to 66.1 million lei (EUR15.22 million).
Proprietatea shares closed at RON0.423, on a traded value of RON14.7 million.
SIF Transilvania (SIF3.RO) was the second-top traded issuer. Its stocks jumped nearly 15% on the day, to RON0.585 million.
Other popular stock included BRD-Groupe Societe Generale, which rose 0.19% on the day, and Erste Group Bank (EBS.RO), which gained 3.2%. (EUR1=RON4.3422)