Trading statistics for March show an average daily turnover of EUR 0.9m (-77% YoY). CROBEX ended March in green (+2.3%) at 1,872.22 points.

Relatively low liquidity on the ZSE continued in March as well. To be specific, total equity turnover amounted to EUR 20.85m (or HRK 157.9m). This translates into an average daily turnover of EUR 0.9m, representing a decrease of 77% YoY. Such a high decrease could be attributed to the selloff which occurred in March of 2020 (beginning of the pandemic).

Excluding block transactions, HT generated HRK 21.3m or 16%, while Podravka generated 10,8% (or HRK 14.3m). Valamar Riviera comes third, accounting for 9.1% (or HRK 12.1m). Next come Atlantic Grupa and Atlantska Plovidba with HRK 8.98m and HRK 7.99m respectively. These five shares generated around 48.6% turnover of the whole market (excluding block transactions).

As visible in the graph, of the observed Croatian blue chips, two food companies – Atlantic Grupa and Podravka observed the highest share price increases of as much as 11.7% and 9.56%, respectively. Atlantic Grupa closed the month at HRK 1530 per share, which puts the company at EV/EBITDA of 8.1. HT comes next with an increase of 7%, closing at HRK 192 per share.

On the flip side, Valamar Riviera concluded the month in red (-6.5%).

As a result of the above-mentioned share price performance of Croatian blue chips, CROBEX ended March in green (+2.3%) at 1,872.22 points. Of the sector indices, CROBEXnutris noted the highest increase of 7.74%.

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