Bucharest Stock Market's Main Index Hits All-Time High at 10,844 Points

The Bucharest capital market, promoted to emerging market status in September last year by FTSE Russell, hit an all-time high on Tuesday as its main index, BET, broke the previous record of 10,813 points, untouched since July 24, 2007, and closed at 10,844 points.

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This is the highest level in the BET's 24-year history.

The BET, which reflects the performance of the most liquid shares listed on the Bucharest Stock Exchange, grew 0.56% on the Day on Tuesday, gaining approximately 10.5% since the begging of the year.

Ironically, one year to the day, on March 16, 2020, Romania declared state of emergency due to the pandemic and the BET took a 9.6% nosedive to 7,126 points. Since then, the BET grew by around 53%.

The BET index was launched in 1997 at 1,000 points, with ten issuers and a stock market capitalization of RON443 million.

Over time, 36 issuers were part of the BET index. Today the main index includes 17 issuers and stands at 10,844 points.

One year after launch, the BET hit an all-time low on September 24, 1998, dropping to 281 points. The international financial crisis of 2008 sent stocks plummeting across the globe and BET hit its lowest after this period on February 25, 2009, at 1,887 points.

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