Belex closes week in the red, Dunav drops 7%

Last week, the domestic market recorded solid turnover. This was primarily due to the trading of government bonds. In contrast, the stock market saw a decline after a sharp drop in the price of Dunav Osiguranje (DNOS). The Belex15 index declined by 1.4% to 1,203.9 points. Total market turnover stood at RSD 385.1m (EUR 3.3m).

Gornji Milanovac-based Metalac (MTLC) was the most active stock. It had a turnover of RSD 6.1m, with an unchanged price of RSD 2,150. Most of last week’s turnover was executed at the RSD 2,100 level. This year, the stock has increased 7.5% so far. The increase is supported by the company’s solid business trend in the first six months.

This year, insurer Dunav was the biggest contributor to the growth of the domestic stock market. Last week, it became the main laggard with a sharp decline. The stock slumped 7.1% to RSD 1,551, with a total turnover of RSD 5.4m. The last time the stock recorded this value was in July this year. At the same time, the subsidiary Dunav Re (DNREM) jumped 30% to RSD 9,750, but on low volume.

Among the most active stocks last week was Philip Morris, a domestic major player in the tobacco industry. The company’s priority shares (DINNPB) experienced a 0.9% decline, reaching RSD 9,400, with a turnover of RSD 1.9m. Shareholders received a dividend of RSD 581.4 per share in July, with a yield of 6.2% based on the most recent price.

WEEKLY REPORT, August 18-22, 2025