The total turnover of securities on the Exchange amounted to SIT 18.97 billion in September 2000, which is 74.17% higher than the August figure and 19.45% lower than the September 1999 figure.The total value of SIT 173.28 billion of securities traded in the first nine trading months of 2000 was SIT one billion above the 1999 figure for the same period.
In September 2000, the highest share in the structure of the total turnover was reached by shares (53.42%).The share of turnover of shares of investment funds was 30.77% and of bonds was 15.29%.Shares of investment funds recorded the biggest increase in the share of turnover or two months running. The share increased by 20.3% points in the last two months, mostly due to decrease in the share of turnover of shares by 12.64% points in the same period. Trading in short-term securities hasn't in the last five months. Pension coupons made up 0.53%of the total turn-over or SIT 100 million. The share of the official market in total turnover in September was 38.17%, which is the lowest figure since the beginning of the year 1999.
The average number of transactions per day in September was 1,315 or 27,628 transactions in twenty-one trading days. In the first nine months of 2000 the daily average of transactions was 1,618 and was below the average of 1,760 in 1999. In September 2000, the most traded securities were shares of investment funds. The average number of transactions with shares of investment funds was 778 per day or 59.18%of total number of transactions, for shares the figures were 462 or 35.16%.
The average daily turnover was SIT 903 million, which is considerably below the average of SIT 1 billion in 1999.The number of shares of companies traded was 2,162,863 and the number of shares of investment funds traded was 98,188,177.
The most traded shares on the Exchange market (block trades are excluded) were Radenska, Lek,Krka, Gorenje and Pivovarna Laško.These five issuers represented 44.80% of the turnover of shares on the Exchange. The most traded bonds in September were bonds of 2nd issue of Slovenska odškodninska druzba,which represented 59.13% of the turnover of bonds on the Exchange. Five most traded shares of PIDs (Kmecka druzba, In ond zlat,Triglav steber 1, NFD 1 and Pomurska investicijska druzba 1) in September represented 47.45%of the turnover of shares of PIDs on the Exchange. In September 2000, ten most active Exchange members concluded 67.80% of the total turnover. The most active members were Perspektiva,Nova Ljub occurred ljanska banka,Publikum,Ilirika and BPD FIDA.
Block trading
In September 2000 85 block trades were reported by the Exchange members, with a total value of SIT 11.42 billion. The value of block trades represented 60.21% of the total turnover in September 2000 and was much higher than its average level of 49% in 1999 and of 37% in 1998.In the first nine months of 2000 839 block trades were reported with the value of SIT 96.46 billion or 55,67% of the total turnover in the period concerned.
Indices
The Slovenian Stock Exchange Index - SBI 20
In September the value of the index SBI 20 decreased by 4.16% from 1,703.10 points to 1,632.29 points. The last negative trend began in the middle of August 2000, when the index was at 1,737.72 points. After that the index recorded an almost constant negative movement. In 21 trading days in September the index increased only over three trading days. SBI 20 was at its highest level of the month on 1 September at 1,703.10 points and at its lowest level of the month on 30 September at 1,632.29 points. The average daily change of SBI 20 was between 0.01%and 0.82%.The index was traded at low volatility during the whole month. The highest increase in value was recorded on 20 September -by 0.28%and the biggest drop on 28 September -by 0.82%.
The Non-weighed Slovenian Stock Exchange Index - SBI 20NT
The performance of the Non-weighed Slovenian Stock Exchange Index -SBI 20NT in September was similar in movement to the index SBI 20.In September the value o the index SBI 20NT decreased by 3.45 % from 1,697.14 points to 1,638.53 points. The average daily change o SBI 20NT during the whole month was between 0.06%and 0.66%.
The Free Market Index - IPT
In September the index IPT, which is composed o ordinary shares o 15 different issuers from the free market, decreased by 4.59%rom 1,646.02 points to 1,570.49 points. In September the index IPT displayed the highest volatility compared to the other indices. It recorded a spread o 4.70%between its minimum and maximum value.
Index of Authorised Investment Funds - PIX
The highest decrease in September was recorded by the index PIX (beside Pharmaceuticals and Chemicals industrial sector indices).The value of PIX at the end of September was 1,233.48 points, hence PIX recorded a 4.65%decrease compared to the value at the end of August, when it was 1,293.59 points. During the whole month the index PIX also exhibited low volatility. In September the spread between the minimum and maximum value of the index amounted to 72.98 points. The highest increase in value was recorded on 1 September -by 0.99%and the biggest drop on 27 September - by 0.92%.
The Stock Exchange Bond Index - BIO
In September only the Bond Index BIO recorded a positive nominal return, although its value did not change for most of the month. The value of BIO at the end of September was 107.24 points, hence BIO recorded a 0.80%increase in value in September. The highest daily change of index BIO was 0.83%.
Industrial Sector Indices
In September the values of all six industrial sector indices decreased -between 2.40%and 6.61%. The highest decrease was recorded by the index Pharmaceuticals (6.61%) mostly due to the drop in price of shares of Krka by almost 10%.The lowest decrease was recorded by the index Trade - 2.40%.
Foreign investments
In September a net in low o foreign investments amounted to SIT 948.9 million, of which an inflow of SIT 110.3 million was recorded by the exchange transactions (Source: the Bank of Slovenia).Exchange transactions recorded a net in low for the first time after April 2000.A net inflow of SIT 3.48 billion of foreign investment was recorded in the first nine months of 2000. The off-the-exchange market contributed an inflow of SIT 3.56 billion while the exchange market had a net outflow of SIT 81 million.
Foreign investors accounted or a 1.20%of the shares turnover on the Exchange in September. This value was slightly lower in comparison to the previous month. The share o foreign ownership in the market capitalisation of shares on the Exchange was 6.97%at the end of August staying at its end of July level. The share of foreign ownership reached its highest level in May 1998 -12.23%.
Capitalisation
On 30 September 2000 the total market capitalisation of securities, traded on the Exchange (including shares of investment companies) amounted to SIT 1,014.82 billion, almost SIT 32 billion lower than its level on 31 August. The decrease was mostly due to a decreased market capitalisation of the official market shares by SIT 22 billion, which in turn was due to the share price drop in the last month. At the end of September 2000 the market capitalisation of forty-six investment funds was SIT 139.57 billion. The total market capitalisation of securities, traded on the Exchange increased by 13.52% in a one year period.
The market capitalisation of the shares listed on the official market of the Exchange increased from SIT 454.40 billion to SIT 480.20 billion or by 5.68%in one year 's time. The capitalisation of shares on the free market increased in the same period by 22.23%.At the end of September 2000, the market capitalisation o all shares traded on the Exchange (official and free markets) (SIT 616.68 billion) made up 16.96% of GDP in the year 1999 -SIT 3,637 billion at current prices. (Source: Statistical Office of the Republic o Slovenia, April 2000).
