Monday evening, the Chamber of Deputies’ Committtee for Budget, Finance and Banks gave the greenlight to a project aimed at increasing the maximum ownership limit in the SIFs. The funds’ shares also rose Monday after the item was announced on the committee’s agenda.
Some of the SIFs posted increases of more than 8% at the debut of Tuesday session, but their gains tempered later.
At around 10:30 local time (GMT0830), BET-FI was up 4% from Monday’s closing level, held back by Fondul Proprietatea (FP.RO), which traded almost flat on the day.
At the same time, the Bucharest bourse’s general index BET-C was up 0.5%, while the main index BET was gaining 1.2%.
The extended blue-chip index BET-XT was up 2.2% from Monday’s closing, while energy stocks tracker BET-NG was up 0.7%.
The traded values were higher than the average in the last period, with SIFs clearly dominating the floor. At around 10:30, the bourse’s overall turnover reached 13.4 million lei (EUR3.1 million).