The BUX Index Rose This Week on Rising Turnover

The Budapest Stock Exchange's share index, the BUX, closed the week at an all-time high of 72,094.79 points, up 1715.87 points or 2.44%, MTI reported this Sunday along with a brief analysis of the week's trading.

Total weekly turnover rose from HUF 55.49 billion to HUF 72.151 billion, with the leading shares, with the exception of Magyar Telekom, gaining on last Friday's close.

An analyst at Equilor Investment Ltd., Gergely Muhi said earlier, in response to a question from MTI, that many more people offered shares for Magyar Telekom's buyback program than the company wanted to buy, which may have caused the share price to fall. He added that regardless of this, Magyar Telekom, like other large issuers, had a good period this week.

Overall, trading was positive, with the BSE stock market index hitting consecutive highs as it rose at an increasing pace. Only on Monday did the stock market not perform particularly well, with the BUX falling, albeit slightly, and although turnover was well above average, this was largely due to Magyar Telekom's share purchase program.

On Tuesday, the BUX already reached a high, which Equilor Investment Ltd. analysts explained by the strengthening of Richter, as the unfavourable international mood led to an appreciation of pharmaceuticals among investors. Wednesday saw another historic high, with turnover data showing that it was mainly thanks to OTP that the BUX crossed the 71,000 mark. The momentum did not abate on Thursday, when almost all the leading shares strengthened, with only Richter correcting its earlier gain with a decline. On Friday, the BUX already exceeded 72,000 points, with Magyar Telekom being the only stock to miss out.

OTP was the strongest performer this week, rising by 685 points, or 3.88%, to HUF 18,325 on a total turnover of HUF 36.851 billion.
Richter closed at HUF 9,580, up 280 forints or 3.01%, with a turnover of HUF 8.329 billion.
Mol shares gained HUF 28, up 0.98%, to close the week at HUF 2,878 and with a turnover of HUF 7.055 billion.
Magyar Telekom weakened by HUF 8, or 0.76%, to HUF 1,044, with a weekly turnover of nearly HUF 17 billion.

The BUMIX index of small and medium-sized shares rose by 82.20 points, or 1.28%, to 6,488.80.

Translated with DeepL.com (free version)