Belex drops for first time since end of July

The Serbian stock market snapped a five-week winning streak on low volume. The index of the most liquid shares, Belex15, lost 0.6% in its value to almost 848 points, while total turnover on the market amounted to RSD 115.6m (EUR 1.0m).

The most active stock was insurer Dunav Osiguranje (DNOS) which slightly decrease to RSD 1,339 with a trading value of RSD 13.3m, Dunav is the most traded stock on the BSE in 2022 so far with an average daily turnover of RSD 4.5m, following a free share distribution in April.

Shares in the Petroleum Industry of Serbia (NIIS) closed the week flattish at RSD 626 with a turnover of RSD 5.3m. Brent crude oil price dropped at mid-week below 90 USD/bbl level on recession fears before it recovered on Friday. Preferred shares in Philip Morris (DINNPB) continued their upward trend to RSD 7,799. The stock gained 18% in a month after the company posted stellar H1 financial results.

Shares in Impol Seval (IMPL) dropped 4.8% to 5,900 following a significant surge a week before. The aluminum rolling mill recorded an H1 net income of RSD 2.5bn, the best result since the company went public. Shares in constructor Jedinstvo Sevojno (JESV) closed the week unchanged at RSD 7,600 on low volume. The stock bears one of the largest dividend yields on the domestic stock market at 9.3%.