BUX Index: Significantly Fall This Week

The Budapest Stock Exchange's (BSE) share index fell in heavy trading this week, with the BUX closing at 40,246.70 points on Friday, down 12.07% on a week ago to 5,522.46 points, the state news agency MTI reported this Sunday.

Turnover on the stock market almost doubled to HUF 322.227 billion from HUF 176.57 billion last week, with the leading shares weakening, with the exception of Mol.

In a summary sent to MTI, Equilor Investment Plc. said that the domestic stock market and the HUF exchange rate were under significant pressure this week due to the Russian-Ukrainian military conflict. Unfortunately, until the situation is resolved, this could persist in the coming weeks.

It was recalled that there have been significant changes in fuel prices. According to a government decree on Monday, the wholesale price of fuel was also fixed at HUF 480, a provision that will remain in force until May 15. In addition, the excise duty on fuel was reduced, a move necessary to avoid the continuing losses of petrol stations, they said.

Among the week's events, Equilor also highlighted that the central bank revoked the operating license of Sberbank in Hungary and ordered its liquidation. The National Deposit Insurance Fund will compensate depositors up to EUR 100,000 each within 10 days. On Friday, OTP indicated that it may buy the assets of the Hungarian Sberbank.

Mol's share price was the only one to rise this week, by 2.11%, closing Friday at HUF 2,512, with a weekly turnover of more than HUF 16.74 billion.

Richter's share price fell the least, by 1.84%, ending Friday's trading at HUF 6,950, with a weekly turnover of more than HUF 25.11 billion.

The biggest fall was recorded in OTP shares, which fell by 29.39% to HUF 10,415 on the last trading day of the week, with a weekly turnover of more than HUF 256.37 billion. The BUMIX index of small and medium-sized shares closed the week at 3572.17 points, down 340.80 points or 8.71% on the previous week.