BUX Index Fell on Rising Turnover This Week

The Budapest Stock Exchange (BSE) share index fell in the four-day trading week, with the BUX closing at 43,285.23 points on Friday, the last trading day of the week, 2.11% or 932.62 points lower than the closing price of the previous four-day trading week, MTI reported Sunday morning, along with a brief analysis.

Turnover on the stock market was HUF 28.87 billion for the four trading days, down from HUF 24.67 billion in the previous week, with leading stocks weakening, except Magyar Telekom.

József Puzsár, an analyst at Equilor Investment Plc., said in a weekly summary sent to MTI that the Hungarian stock market did not end the week on a very good note. He explained that sellers arrived on Wednesday and the prices of major stocks fell sharply. The BUX index fell by about 4% from 44,500 points in two days, on Wednesday and Thursday. Sentiment on the Budapest stock exchange improved on Friday, in line with international markets, and the BUX improved on the last trading day of the week, correcting on Friday the larger falls seen on Wednesday and Thursday.

OTP is back below the HUF 10,000 level, and Richter also saw a weak weekly performance, with the share hovering near HUF 7,700. The price movement was similar for Mol, with the fall seen earlier in the week corrected on Friday. Richter's share buyback program started. As previously announced, the Hungarian pharmaceutical company has started its buyback program at various average prices, Equilor analyst wrote.    

For the week, Richter fell 2.53%, the share closed at HUF 7,720 on Friday, with weekly turnover exceeding HUF 8.1 billion.

Mol's share price fell by 0.59%, closing Friday at HUF 2,698, with a weekly turnover of around HUF 6.7 billion.

OTP's share price fell by 3.72% this week, closing at HUF 9,830 on Friday, with a weekly turnover of more than 12.9 HUF billion.

Magyar Telekom's share price rose by 1.87% this week, closing at HUF 408 on Friday, with a weekly turnover of HUF 442 million.

The BUMIX index of small and medium-sized shares ended the week at 3470.69 points, down 44.44 points, or 1.26%, on the previous week.