Belex closes the week flattish on low volume

The Serbian stock market closed the previous week with a slight increase in value, while the total turnover was the weakest in the current year. The index of the most liquid shares, Belex15, closed the week at 891.3 points, while the total turnover was only RSD 29.7m (EUR 0.3m).

For the second week in a row, the Petroleum Industry of Serbia (NIIS) recorded modest turnover without large price fluctuations. NIS closed the week at RSD 760 with a drop of 0.3% and a turnover of RSD 7.4m. Brent crude oil price recovered by more than 6% last week, reaching USD 80 per barrel, but investors remained skeptical of the stock for the second week in a row.

Shares in Dunav Osiguranje (DNOS) fell 4.4% to RSD 1,130 with a turnover of RSD 3.8m. The company scheduled the AGM and announced that last year’s profit of RSD 1.3bn will remain undistributed. The fact that the shareholders of Dunav will be left without a dividend for the first time since 2015 significantly reduced the interest of investors in the stock.

After a long time, Messer Tehnogas (TGAS) reached RSD 14,000 at the end of the week with a small turnover of RSD 1m. Sevojno-based Jedinstvo (JESV) increased 2% to RSD 7,499 on low volume, while Belgrade Airport (AERO) jumped 1.7% to RSD 1,896.

WEEKLY REPORT, March 27-31, 2023