BUX Index Rose on Falling Turnover This Week

The stock index of the Budapest Stock Exchange (BSE) rose this week amid falling turnover, closing at 46,645.41 points on Friday, 205.27 points, 0.44% higher than a week earlier, MTI reported this Sunday morning along with a brief analysis of the week’s trading.

Weekly turnover on the stock market was HUF 38.95 billion, down from HUF 46.19 billion the previous week, with leading shares performing mixed.

In its weekly summary sent to MTI, Equilor Investment Plc. said that the BUX index showed directional movements on Friday, with relatively low turnover. This was broadly the same for Western European and regional stock markets, so "we did not stand out."

Prior to this, the BUX index closed the week higher, with the exception of Wednesday.

It was also noted that the Hungarian National Bank (MNB) held its interest rate decision meeting on Tuesday, with no change in interest rate expectations. In the background discussion following the interest rate decision, it was revealed that the MNB will raise the required reserve ratio for banks from 5% to 10% from April 1, which will mean a significant reduction in liquidity.                             

Among the leading stocks, Mol gained the most this week, up 3.64%, closing at HUF 2,788 on Friday, with weekly turnover of HUF 6.13 billion.

The price of Richter shares rose by 0.24%. The stock ended Friday's trading at HUF 8,240, with a weekly turnover of HUF 5.39 billion.

OTP's share price weakened by 1.06%, with a weekly turnover of HUF 25.22 billion, closing Friday at HUF 11,250.

Magyar Telekom fell by 1.07% this week, ending Friday at HUF 370, with a weekly turnover of HUF 1.21 billion. The BUMIX index of small and medium-sized shares closed the week at 3,666.30 points, down 10.49 points or 0.29% on the previous week.