The evolution of the capital market in the first quarter of 2024

Bucharest, 27 June 2024 - The local capital market carried out positive developments in the first quarter of 2024, the total value traded on the regulated market of the Bucharest Stock Exchange (BSE) and on the Multilateral Trading System (MTS) reaching the level of almost 6.37 billion lei, increasing by over 134% compared to the same period of the previous year.

The number of transactions carried out in the first quarter of 2024 at BSE – on the regulated market and MTS – amounted to almost 615,000 and increased by 69% compared to the level recorded in the same period of 2023. The market capitalization on the regulated market reached, at the end of the first quarter of 2024, the level of 320.2 billion lei, increasing by about 59.2% compared to the end of March 2023.

Romania Stock Market Indices recorded positive developments at the end of March 2024 compared to the same period of the previous year. The reference BET index (which includes the developments of the most traded companies on the BSE regulated market) had an increase of 10.76% on 29 March 2024 compared to the end of 2023.

The value of transactions with government securities, on 29 March 2024, increased compared to the same period of 2023, reaching a level of about 920.4 million lei. Shares remain the dominant class of financial assets, with a share of more than 65% of the total value traded on the BSE until 29 March 2024.

During the reference period, the most active intermediaries on BSE (regulated market and MTS) were financial investment services companies, the value of which was approximately 7.9 billion lei. Local intermediaries (FISC and credit institutions) made about 92% of the total value traded. Of the intermediaries authorised in other EU member states that traded on spot markets, the most active were investment companies, with a market share of 5.65%.

At the end of March 2024, FISCs had in custody a cumulative asset value of 29.9 billion lei, representing both customer cash assets and financial securities held by them. The cumulative number of active customer accounts of FISCs at the end of the first quarter of 2024 was 94,343.

The total value of the assets of undertakings for collective investment a (UCI) in Romania was at the end of the first quarter of 2024 of approximately 36.3 billion lei, increasing by approximately 7.8% compared to the previous quarter. At the end of March this year, 15 managers were operating in Romania, of which 6 were authorised exclusively as investment management companies (IMC), 1 was authorised exclusively as an alternative investment fund manager (AIFM), and 8 had dual authorisation.

An analysis by categories of undertakings for collective investment shows that in the first quarter of 2024, compared to the end of 2023, total asset decreases were recorded for FP (-4.94%) and total asset increases for UCITS (9.83%), FIC (8.82%) and AIF (1.21%).

On 29 March 2024, the first three IMCs managed approximately 71.11% of the UCITS’ assets and 63.8% of the AIF’s assets. On the same date, the net assets related to the six ICs accumulated about 15.6 billion lei, up by 8.8% compared to the end of 2023, when a level of 14.3 billion lei was recorded.

The report on the evolution of the Romanian capital market in the first quarter of 2024 can be consulted HERE.