Falling Index at the Budapest Stock Exchange This Week

The stock index of the Budapest Stock Exchange (BSE) fell this week, closing at 50,887.3 points on Friday, 189.31 points or 0.37% lower than a week ago, the state news agency MTI reports.

Turnover on the stock market was HUF 60.85 billion, up from HUF 42.87 billion last week, with leading shares performing mixed.

In its weekly summary sent to MTI, Equilor Investment Plc. said that the BUX index continued to slide downwards this week, testing the 50,000-point level.

They pointed out that the MNB raised the base rate by 30 basis points to 2.4% at Tuesday's interest rate decision meeting and the one-week deposit tender rate was 3.6%, which raised the effective interest rate by another 30 basis points. Another important announcement was that the central bank will close its crisis management programs: the Growth Bond Program and the government bond purchase program.

In corporate news, Equilor highlighted that OTP added shares to its employee program this week. The bank issued HUF 200 billion in bonds, which were used to replenish the employee program's share limit.

The BUMIX index of small and medium-sized shares ended the week at 4,218.74 points, down 40.21 points or 0.94% on the previous week.