Hungary’s benchmark BUX index opened the week strongly, climbing 2.17% to 135,773.68 in early Monday trading, around 15 minutes after the opening bell, according to MTI.
The rally comes a day after the Tisza Party’s election victory, lifting investor sentiment and driving gains among blue chips.
Shares of OTP Bank rose 2.93% to HUF 42,500, while MOL surged 5.13% to HUF 4,264.
Pharmaceutical company Richter added 1.72% to HUF 13,020, and Magyar Telekom gained 2.65% to HUF 2,400.
Among mid-caps, 4iG dropped sharply, shedding 18.71% to HUF 2,028, while Opus Global fell 14.07% to HUF 369.5. The sharp declines in both 4iG and Opus Global come as both firms are widely seen by investors as closely aligned with Viktor Orbán’s defeated Fidesz government.
The BUX ended the previous session up 3.79%, with turnover reaching HUF 59 billion.
Forint firms to Four-year High After Election Results
The forint firmed to a four-year high against the euro on Monday.
The forint traded at 365.28 to the euro around 10:00 in the morning, advancing from 375.13 late Friday.
The forint strengthened to 312.36 from 319.63 against the dollar.
It also firmed to 395.21 from 405.60 to the Swiss franc.