The domestic stock market grew for the fifth week, although investment activity was slightly weaker. The index of the most liquid stocks, Belex15, rose by 0.5% to 1,148.6 points, while total market turnover reached RSD 3.02bn (EUR 25.8m) thanks to government bonds.
The most active stock was the Petroleum Industry of Serbia (NIIS), which fell slightly to RSD 821 on a turnover of RSD 11.4m. The company will publish Q3 results on October 28, and it remains to see how much potential there is to improve on the poor H1 performance in the second half of the year. The company’s consolidated H1 net income fell 61% to RSD 5.3bn.
Belgrade Airport (AERO) hovered slightly around the RSD 2,000 mark with a trading value of RSD 7.6m. The stock is close to the history high of RSD 2,100, which it reached for the first time in the spring of 2023.
Dunav Osiguranje (DNOS) continued to experience sustained pressure on the bid side. Shares of this largest insurance company rose by 1.3% to RSD 1,341 on a turnover of RSD 7.4m. Over the past three months, the stock recorded an almost uninterrupted upward trend, increasing in value by around 22%.
Source: Momentum
