The Serbian stock market has mirrored the negative sentiment from the world financial markets, recording a sharp drop of 2%, as measured by the Belex15 index. Total turnover on the market amounted to a solid RSD 895m (EUR 7.6m), but primarily thanks to the government bonds.

The most active stock was the Petroleum Industry of Serbia (NIIS), which weakened by 0.7% to RSD 725 with a turnover of RSD 16.9m. The demand for this most liquid stock on the market has waned at the end of the week, resulting in modest turnovers again.

Shares in Dunav Osiguranje (DNOS) have been traded mostly around the RSD 1,000 level with a turnover of RSD 10.1m. This largest domestic insurance company announced H1 results, which showed a recovery in profitability after last year’s disappointing performance due to higher claim costs. The stock ended the week with a slight decrease at RSD 985.

Messer Tehnogas (TGAS) was among the most traded stocks, with a turnover of RSD 6.7m, decreasing 1.7% to RSD 16,900. The company also published H1 reports, showing strong revenue growth and a 54% jump in net income despite high electricity costs. Tehnogas has still registered a jump of 9% in September so far.

Belgrade Airport (AERO) posted a turnover of RSD 5m at the RSD 2,000 level mostly but closed the week at RSD 1,954. Metalac (MTLC) suffered a drop of 5.7% to RSD 1,510 with a turnover of RSD 2m. The company announced its intention to take over the remaining shares in the subsidiary company Proleter, in which it owns a 64.6% stake.

WEEKLY REPORT, September 18-22, 2023 

Close 888.04
Weekly Change (abs) -17.51
Weekly Change (%) -1.93%
Weekly High 910.45
Weekly Low 886.03
Traded Value (RSD) 41,462,488
Most Active
Shares Closing Price Change Traded Value (RSD)
NIIS 725 -0.68% 16,922,139
DNOS 985 -0.40% 10,086,236
TGAS 16,900 -1.74% 6,746,700
AERO 1,954 -4.59% 4,985,288
MTLC 1,510 -5.68% 2,005,900
Shares Closing Price Change Traded Value (RSD)
AVEN 1,950 +24.84% 19,500
GFOM 660 +9.45% 165,000
DINN 7,500 +7.14% 405,000
FINT 670 +4.69% 2,680
DNREM 3,300 +3.13% 168,300
Shares Closing Price Change Traded Value (RSD)
MTLC 1,510 -5.68% 2,005,900
AERO 1,954 -4.59% 4,985,288
IMPL 5,800 -1.99% 622,545
LSTA 550 -1.79% 89,100
TGAS 16,900 -1.74% 6,746,700