The last week in September brought a drop in the Serbian stock market after the new round of turbulences on the global stock markets spilled over to the BSE. The index of the most liquid shares, Belex15, fell 1.7% to 827.4 points, almost completely erasing the gains from the beginning of the year. Total weekly turnover, thanks primarily to the government bonds, rose to RSD 195.4m (EUR 1.7m).
The most traded stock was insurer Dunav Osiguranje (DNOS), which fell 8.8% to RSD 1,183 after it suffered increased pressure due to turbulence in the global stock markets. The stock decreased below RSD 1,200 level for the first time since the end of May, reaching a turnover of RSD 21.2m.
Shares in the Petroleum Industry of Serbia (NIIS) once again recorded a modest trading value of RSD 2.7m with a 1% drop to RSD 622. Brent crude oil fell to USD 85 per barrel, suffering a Q3 loss of 27% following a surge for the period of January to June. Shares in Impol Seval (IMPL) closed the week unchanged at RSD 5,700, although the stock has recorded increased pressure on the ask side during the week.
Shares in Metalac (MTLC) fell 1.2% to RSD 1,600 on low volume, a level last seen at the end of 2016. The decline could be attributed to the fact the company has not been purchasing its shares for a long time. Shares in Messer Tehnogas (TGAS) fell 2% to RSD 14,549 with tiny trading. The stock is also suffering pressure on the ask side, while demand has weakened after the company announced lower H1 profitability due to rising materials and energy costs.
WEEKLY REPORT, September 26-30, 2022