„The short-term factors that were at the basis of the decline of the Bulgarian Stock Exchange (BSE) since the start of the year, are still in effect. These are the gas crisis, the sell-offs on the major global stock exchanges, the escalating public tension in the country and etc.," Vladimir Malchev, manager and investment consultant at Bul Trend Brokerage told Profit.bg.

The massive sell-offs in the last two sessions on BSE were on the part of institutional players strugling with liquidity, who will gradually ease the pressure.

„The problem of the market at this point are the passive buyers despite the extremely undervalued stock prices," Malchev said.

Low turnover and modest changes in the stock prices of major stocks will continue today. According to Malchev. „It is too early to talk about gains and the possibility of a new downward pressure on the indexes remains high in the short term", Malchev added.

SOFIX pierced its November low of 319.04 points yesterday, closing the session at 318.52 points, which is closed to its July 2003 levels. The index lost nearly 4% of its value on the day. The other three indexes also ended the day lower.

The broader BG40 shed 2.13%, to 100.27 points, BG REIT closed 0.94% down at 45.54 points. BG TR30 slipped by 2.59%, to 241.58 points.