BUX Among Global Leaders Last Year, Hungarian Blue-Chip Stocks 'Crisis Resilient'

  • 1 Mar 2024 7:47 AM
  • Hungary Around the Clock
BUX Among Global Leaders Last Year, Hungarian Blue-Chip Stocks 'Crisis Resilient'
The BUX, the benchmark index of the Budapest Stock Exchange, rose by 38% last year and 49% in dollar terms, the second-best performance globally, exchange CEO Richárd Végh told the bourse’s annual awards ceremony.

The leading Hungarian blue-chip stocks were crisis resilient and, despite the robust gain in the share price and of profitability, are still undervalued based on price-per-earnings ratios, he added.

There were four IPOs on the market last year, including that of the BSE itself, with a total of Ft 105 billion in new shares issued.

The market capitalisation of the Budapest exchange rose from Ft 6.6 trillion in 2016 to nearly Ft 15 trillion at the end of 2023.

Appreciation of share prices accounted for Ft 5.7 trillion of the total Ft 9.3 trillion gain, while Ft 2.6 trillion came from new listings and capital increases.

Opus was Best BSE Performer in 2023

Opus Global was recognised as the highest gaining stock of 2023 in the Budapest Stock Exchange’s premium category at the annual awards ceremony on Thursday, as the top performers in the capital market were awarded in 25 categories.

The Opus share price rose by 335% in 2023 to end the year at Ft 382.

Despite the negative external environment, net sales reached record levels, rising above Ft 500 billion, CEO Koppány Lélfai told state news agency MTI.

The company’s improving profits have attracted investors, he added.

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