He adds that in the context in which the banking deposits have started to offer interest rates of over 11% per year, “in Q3 we may see investors re-focusing on the banks’ interest rates”.
The main shares listed on the stock exchange recorded declines also last month. They lost on average 9%. A month earlier, in July, the market suffered the biggest monthly decline this year, caused by the local investors, the brokers say.
Brokers add that left on the market now are only speculators, who sold from their shares waiting for the market to go down, in order to re-enter more cheaply, whereas those who still have shares in their portfolio are expecting the stock market to recover.
He considers “there is tension at the level of investors, but it is not panic. Some of them are losing their patience and leave the market but this is not a tendency on the market”.
This year, the shares listed on BVB suffered significant declines, which reduced the investors’ appetite. Since the start of the year, the main indexes of BVB have fallen more than 40-50%.
The significant declines in the past year have driven away from BVB some 8,000 investors.
Marius Trif, the general manager of Carpatica Invest, says in Ziarul financiar that a longer period is necessary for the outlining of a clear ascending trend for the local investors to return to the market.