Report: Bucharest Stock Exchange advances 47.1 pct in 2026, 41.8 pct inflation-adjusted

  The Bucharest Stock Exchange (BVB) is recording a 47.1% nominal advance of the BET index since the start of 2026, while the real return, adjusted for accumulated inflation, stands at 41.8%, placing Romania seventh worldwide, according to an analysis by president of the Financial Supervisory Authority (ASF) Alexandru Petrescu and ASF Financial Stability head Marius Acatrinei.The real return was calculated using accumulated inflation from December 2025 to June 2026, which reached 3.8% in Romania, compared with an annual inflation rate of 10.4%. After adjustment, BET's real gain remains 41.8%, keeping Romania in 7th place out of 104 markets with complete data.Across Europe, BET ranks first, with 47.1% nominal and 41.8% real, followed by Hungary (31.9% nominal, 30.3% real). Slovenia, Poland, Norway, Austria, Greece and Italy all posted nominal returns below 29%.As of July 31, 2026, BVB's market capitalization reached RON 704.8 billion, a new all-time high, up 35% from the end of 2025 (RON 523.1 billion) and more than 2.4 times the level of December 2023.Liquidity on the main market has also increased. In July 2026, the turnover reached RON 4.64 billion, more than double the usual monthly average. A significant share of trading was concentrated in a few sessions, especially on July 16, when turnover exceeded RON 1.4 billion.Over the past 12 months, BET has gained 79.1%, including 33% in the last six months and 11.3% in July alone. The BET-NG energy index posted the strongest 12-month advance, at 90%, while BET-TR, which includes dividends, rose 86%.Market growth has been driven primarily by energy and banking. In July, the two sectors accounted for roughly three-quarters of main-market turnover: energy approximately 49%, banks roughly 27%. Banca Transilvania, Petrom, Romgaz and Hidroelectrica were among the most traded companies.The number of active client accounts at investment service firms rose from 15,726 in March 2019 to 148,491 in March 2026, an increase of nearly 9.4 times. Assets under custody at SSIFs climbed from RON 8.73 billion to RON 63.75 billion over the same period."As of July 31, 2026, the Bucharest Stock Exchange is at historic highs across all relevant dimensions - capitalization, returns and investor base. BET has outperformed all major international benchmark markets over 12 months, supported by the energy and banking sectors. Growth is accompanied by a structural expansion of investor participation, suggesting a fundamental development beyond price dynamics. The main point of attention remains the high degree of sector and issuer concentration, but overall BVB's performance indicators reflect a truly exceptional stock-market year for Romania," note the authors in their conclusion.