Features that singled the first quarter out were growing share prices and an active trading on the central market. After a fairly long pause, all shares of the Official and Current Trading Lists became involved in transactions and, apart from ten shares, the share prices were on the increase: LITIN went up by 6%, LITIN-G - by 13% (surpassing the 1000 point mark again), and LITIN-10 - by 7,6%. Rising prices of the leading shares (Mazeikiu Nafta, Lietuvos Telekomas, Snaige, etc.) and admission of shares of three new companies to the Current Trading List boosted the listed equity capitalisation by 13%. Market analysts forecast flow of foreign investments to the national securities market and market revitalisation. A more active involvement is also expected from local investors. The first week of April proved those forecasts to be true.
The total Stock Exchange capitalisation of the quarter under review amounted to LTL 407 m, which was higher than the capitalisation of a corresponding period last year but somewhat lower than the average quarter turnover of the previous year. The T-bills turnover, LTL 329 m, was also higher than at the beginning of the previous year and accounted for 80% of the aggregate turnover.
Steadily increasing over the quarter, in March the central market share turnover exceeded the average index of 2002 amounting to LTL 11.6 m. From the beginning of the year to the present day it has totalled to LTL 31.5 m. Market participants expressed interest not only in the most popular shares but also in shares with good prospects, for instance, Sanitas AB, Siauliu Bankas AB, Klaipedos Nafta AB, Klaipedos Baldai AB, etc. Investors chose a wide range of shares, which can be seen from the following figures: turnover of shares of five issues on the CM surpassed LTL 2 m, that of seven shares - LTL 1 m, and that of other four shares - LTL 0.5 m.
Average value of block transactions persisted declining over the period under review. The volume of share turnover in other transactions, most of which were block trades, was nearly the same as the average monthly turnover of the previous year and the central market share turnover of the current quarter. Accordingly, the total share turnover amounted only to LTL 78 m. During the 1st quarter, over 4 thousand transactions to sell/buy or transfer nearly 71 m units of shares were conducted OTC, were redemption transactions are on the rise, with the total turnover in cash settled transactions amounting to LTL 109 m, i.e. by 40% more than on the Stock Exchange.
At the meeting of the Board of the National Stock Exchange held on 20 March 2003, Board Chair Asta Ungulaitiene resigned and was replaced by Ana Tursiene, Director Deputy of the Treasury Department of the Ministry of Finance. The Chair Deputy's position was taken by Simona Grineviciene, Director Deputy of the Financial Market Department of the Ministry of Finance. The general meeting of the National Stock Exchange is convened on 30 April.
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