BUX loses 2.8% on negative correction

The Budapest Stock Exchange’s BUX index closed Thursday trade down 2.76% to 17,148.48 as a negative correction of significant previous gains dropped the BSE blue-chip index to its first loss of the current week.

The BUX dropped 486.20 points on a composite exchange turnover of HUF 14.2bn after rising a composite 1,180 points during the first three sessions of the week. The BUX fluctuated in a 3.07% range between an intra-session high of 17,650.72 shortly before 9:30 a.m. and an intra-session low of 17,108.91 shortly before closing bell.

BSE blue-chips stood as follows at Thursday’s closing bell:

OTP Bank lost 4.62% to HUF 3,180 on an exchange-high turnover of HUF 9.46bn;

Oil and gas company MOL declined 4.38% to HUF 17,900 on a turnover of HUF 2.69bn;

Drug company Richter lost 0.29% to HUF 33,900 on a turnover of HUF 885m;

Magyar Telekom finished flat at HUF 517 on a turnover of HUF 721m.

The BSE Big Four generated 96.9% of the exchange’s composite Thursday turnover.