Hungarian stock market rises to unprecedented heights in November
Capital market performance in November was influenced by a number of important factors, both international and domestic: inflation, the geopolitical situation and central bank policy. In the US markets, major equity indices, such as the S&P 500, showed modest gains, thanks to expectations of a US interest rate cut and easing inflation.
However, geopolitical tensions have increased volatility. In Europe, equity markets were affected by concerns over the energy crisis and the slowing German economy, holding back growth.
In contrast, the domestic capital market continued the positive trend seen in recent months, with the BUX index closing November at 77,936.21 points. During the month, the index closed above 80,000 points (80,056.08) on 26 November, breaking the daily record again. The new stock indices launched by the BSE this year recorded similar movements to the BUX during the month: the CETOP NTR closed at 1,542.70 points, while the XTEND index closed at 1,460.50 points.
The leading index of the Budapest Stock Exchange (BSE), the BUX, closed at 77,936.21 points, up 5.5% on the previous month.
In terms of equity market trading, the largest transaction was again in the shares of OTP Bank, worth HUF 296.8 billion. Richter Gedeon shares were traded for HUF 36.5 billion, followed by MOL with HUF 30.9 billion.
Among small and mid-cap companies, eSense, which specialises in HR-focused and call centre services, was the best performer, with a 35% increase.
Turnover on the stock market increased significantly compared to the previous month, reaching HUF 389.3 billion.
November was also an active month in terms of cooperation: the BSE and Erste Bank signed a strategic cooperation agreement to support the competitiveness and growth opportunities of medium-sized companies, and a Memorandum of Understanding was signed in Bratislava by seven Central European stock exchanges, including the Budapest Stock Exchange, and the European Bank for Reconstruction and Development (EBRD) to develop capital markets in the region.
Wood & Company topped the list of investment service providers with HUF 209.6 billion, followed by Concorde and Erste - the former with HUF 191 billion and the latter with HUF 162.9 billion.
On the commodity market, 672 million HUF was traded, all of which was accounted for by sustainable feed maize.
Cover photo: Portfolio
