Belex in green again, Dunav jumps 6%

The domestic market stock continued to grow last week, with total turnover reaching RSD 1.4bn (EUR 11.8m), largely due to a significant contribution from government bonds. The index of the most liquid stocks, Belek15, rose 1.1% to just under 1,215 points.

The most active stock on the market was insurer Dunav Osiguranje (DNOS), which surged 5.7% to RSD 1,646 on a turnover of RSD 14.8m. The stock has recorded a return of around 20% since the beginning of the year, compared to the index basket’s yield of 5.9%.

Messer Tehnogas (TGAS) closed the week flatish at around RSD 35,000 with a turnover of RSD 3.2m, while Belgrade Airport (AERO) recorded a slight increase to RSD 2,200 with a turnover of RSD 1.3m. The airport in Belgrade, operated by VINCI, reported a passenger growth of 12% in June and 5.4% in the first half of the year.

Gornji Milanovac-based Metalac (MTLC) increased slightly to RSD 2,055, with a turnover of RSD 1.1m, while Impol Seval (IMPL) saw a 2.5% decrease to RSD 7,800 on poor trading volume of RSD 0.7m.

Constructor Energoprojekt Holding (ENHL) saw a 1.5% decline to RSD 590, while the company was unable to hold its EGM scheduled for Friday, June 18. Support from the state for the asset disposal decision had disappeared, so the majority owner had to cancel the quorum for the meeting.

WEEKLY REPORT, July 14-18, 2025