BUX Index Rose on Falling Turnover This Week

The stock index of the Budapest Stock Exchange (BSE) rose this week amid falling turnover, with the BUX 50 closing at 407.86 points on Friday, 0.65% higher than a week earlier, MTI reported on Sunday morning, along with a brief analysis of the week.

The weekly turnover of the stock market was HUF 32.21 billion, up from HUF 79.06 billion the previous week, with leading stocks performing mixed.

On Monday, investor sentiment was negative across Europe, causing the BUX index to close lower. Among the leading shares, OTP, Mol and Richter weakened, while only Magyar Telekom managed to rise. By Tuesday afternoon, the buyers had arrived, and the BUX outperformed the main European and regional stock indices. Mol was the best performer after news broke that the company will participate in the construction of an oil pipeline between Hungary and Serbia. OTP gained after a weak start, while Richter and Magyar Telekom fell.

On Wednesday, buyers also prevailed at the end of the day, with the BUX up on low trading. Among the leading stocks, OTP, Mol and Richter were all stronger, while Magyar Telekom weakened. The Hungarian stock market was among the better performers on Thursday, with OTP and Richter up and Mol and Magyar Telekom down. On Friday, the BUX was in negative territory for most of the day, while the Budapest market moved in line with Europe. After the US open, however, a general correction started, and the mood on the Hungarian stock market turned around shortly before the close. By the end of the trading session, the BUX outperformed the main European indices on average volume, with the leading stocks gaining.

Among the leading stocks, Mol gained the most this week, up 1.96%, closing at HUF 3,018 on Friday on weekly turnover of HUF 7.36 billion.

Richter rose by 0.65% this week, closing Friday at HUF 8455 with a weekly turnover of HUF 7.17 billion.

OTP weakened by 0.46%, with a weekly turnover of HUF 15.46 billion, closing the last trading day of the week at HUF 12 025.

Magyar Telekom fell 1.10% this week, closing at 405.5 forints on Friday, with a weekly turnover of HUF 563.3 million.

The BUMIX index of small and medium-sized shares closed the week at 3,501.42 points, up 80.61 points or 2.36% on the previous week.