BUX Index Rose This Week on Rising Turnover

The Budapest Stock Exchange (BSE) share index, the BUX, closed the week at 68,846.13 points, up 757.89 points or 1.11% on the previous Friday, MTI reported Sunday morning with a brief analysis of the week’s trading.

Although only four trading days were held during the week due to the Pentecost holiday, the total turnover of the stock market increased from HUF 49.841 billion to HUF 59.450 billion on a weekly basis. The leading shares performed mixed.

The BUX started the week with a slight decline due to the unfavorable international sentiment, but gained momentum as the week progressed. There was no major issuer news, with investors' attention focused on target price increases. This week, foreign analysts recommended Magyar Telekom, Mol and OTP shares at higher prices, according to Equilor Investment Plc.'s weekly summary.

Trading was particularly good on Friday, not only because the BSE outperformed most European stock markets, but also because the change in dividend entitlement did not drag down the stock market index. As of Friday, OTP and Mol shares are no longer subject to the 2023 dividend, meaning that their decline is merely technical, but this effect has only affected Mol's share price to a greater extent.

Magyar Telekom closed the week with the biggest rise of 2.42%, or HUF 23, ending the week at HUF 972 and total turnover at HUF 1.785 billion.

Richter strengthened by 1.13%, rising by HUF 105 to HUF 9,390 on total turnover of HUF 12.235 billion.

OTP weakened by 1.86% to HUF 335, falling to HUF 17,670, with a total turnover of over HUF 27.920 billion.

Mol's share price fell by 7.47%, or HUF 226, to HUF 2,800 on weekly turnover slightly above HUF 12 billion.

The BUMIX index of small and medium-sized shares closed at 6,157.44 points, up 0.82% on last Friday at 49.89 points.