Trading statistics for March show an average daily turnover of EUR 3.92m (+230% YoY). Meanwhile, the major index CROBEX ended March with a sharp decrease of 20.55% ending at 1,480.51 points.

The selloff which started in late February and continued throughout March resulted in a very high total equity turnover on the Zagreb Stock Exchange (ZSE) of EUR 86.3m (HRK 651.2m). Of that block transactions account for EUR 17.68m (HRK 133.47m). This translates to an average daily turnover of EUR 3.92m (+230% YoY).

Of the total value traded in the period in March (excluding block transactions), Valamar Riviera generated 19%. HT comes second, accounting for 16.9%. Next come Adris preferred and Podravka with 10.4% and 7.3%, respectively. ZABA follows with 6.4%. These five shares generated 60% of the turnover recorded by the entire (equity) market, excluding block transactions.

When observing the total equity market capitalization, it observed sharp decrease of 13.3% MoM, amounting to HRK 126.11bn (EUR 16.7bn). Ina’s share is the biggest constituent of the total exchange’s equity market capitalization, accounting for about 23.3% of the total value. Next, come two Croatian banks – PBZ and ZABA with 12.9% and 12.3%, respectively. Further, HT holds 10.5% while Adris accounts for 3.4% of the total market capitalization value.

As a result of the above-mentioned selloff, CROBEX recorded a sharp decrease of 20.55%, ending at 1,480.51 points. Such a high monthly decrease of the index was last time recorded in November of 2008 when CROBEX dropped by 26.7%. It is also worth noting that all sector indices ended the month in red, with CROBEXindustrija recording the highest decrease of -25.88%.

Share Price Performance of Croatian Blue Chips in March (%)