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BUX posts 0.3% counter-trend gain

Advances from heavyweight issuers MOL and Richter propelled the Budapest Stock Exchange’s blue-chip BUX index to a counter-trend gain of 0.34% to on Wednesday.

The BUX closed 57.84 points higher on a composite exchange turnover of HUF 11.61bn, fluctuating in a 1.62% range between an intra-session low of 16,708.60 shortly after opening bell and an intra-session high at the index’s closing mark of 16,979.37.

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

Oil and gas company MOL gained 1.06% to HUF 18,100 on a turnover of HUF 1.35bn;

Drug company Richter advanced 0.84% to HUF 34,890 on a turnover of HUF 267m;

Magyar Telekom finished flat at HUF 500 on a turnover of HUF 1.03bn;

OTP Bank lost 0.66% to HUF 3,000 on an exchange-high turnover of HUF 8.73bn, or just over 75% of the BSE’s total Wednesday trade.

The BSE Big Four generated 98% of the exchange’s composite Wednesday turnover.