BUX Index Fell This Week on Rising Turnover

The Budapest Stock Exchange (BSE) closed the week at 44,440.48 points, down 827.63 points or 1.83% from last week, MTI reported this Sunday morning along with a brief analysis of the week’s trading.

Turnover on the Hungarian capital’s stock market rose from HUF 23.259 billion last week to HUF 36.495 billion this week, with most of the leading shares weakening.

The BUX declined steadily until the last trading day of the week, with turnover below average throughout. Balázs Sághy, an analyst at Equilor Investment Plc., explained the subdued trading on Monday with the extra profit tax, which he said made investors more cautious. Government spokesman Gergely Gulyás announced last Saturday that the energy sector, banks, commercial multinationals and pharmaceutical companies will have to “contribute more” to the budget this year than in the past. 

Rates were also affected by the reporting period, with Richter publishing its 2022 report this week. Although their results, released early on Tuesday, were slightly below expectations and temporarily weakened as a result, the share price corrected in the second half of the week, with Richter the only leading issuer to strengthen on a weekly basis.

Among the leading shares, Mol weakened the most. Its closing value of HUF 2,662 on Friday was 4.18%, HUF 116 lower than the previous week, while its total turnover exceeded HUF 8.5 billion.

OTP weakened to HUF 10,550, losing 2.31% or HUF 250 compared to last Friday's close, with weekly turnover of HUF 14.676 billion.

Magyar Telekom ended the week at HUF 396.5, down 1.61% or HUF 6.5, with weekly turnover exceeding HUF 512 million.

Richter strengthened to HUF 7,800 by Friday's close, up 1.23% to HUF 95 in a week on turnover of almost HUF 12 billion.

The BUMIX index of small and medium-sized shares closed at 3,583.38 points, up 0.22% or 7.81 points on the previous week.