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BUX advances 2.6% on sharp OTP gain

The Budapest Stock Exchange’s blue-chip BUX index finished Thursday trade up 2.57% to 19,141.28 as OTP Bank’s gain of over 7% on positive global sentiment stemming from the Federal Reserve’s announcement that it would keep rates at "exceptionally low levels" through 2014 propelled the BSE blue-chip index back above the 19,000 plateau.

The BUX gained 480.43 points on a heavy composite exchange turnover of HUF 30.94bn, fluctuating in a 3.61% range between an intra-session low of 18,693.07 at 9:10 a.m. and an intra-session high of 19,369.31 at 4:00 p.m.

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

OTP Bank gained 7.27% to HUF 4,119 on an immense, exchange-high turnover of HUF 26.1bn, or just under 85% of the BSE’s Thursday trade;

Drug company Richter advanced 1.47% to HUF 36,550 on a turnover of HUF 829m;

Oil and gas company MOL gained 0.74% to HUF 19,000 on a turnover of HUF 1.97bn;

Magyar Telekom lost 0.18% to HUF 549 on a turnover of HUF 1.46bn.

The BSE Big Four generated 98.1% of the exchange’s composite Thursday turnover.