Belex continues downward trend, NIS at highest level since pandemic

The domestic stock market continued its moderate downward trend for the third week in a row, with a significant weakening of investment activity. The index of the most liquid shares, Belex15, fell 0.3% to 809.3 points, while the total turnover in trading amounted to RSD 1.4bn (EUR 11.9m).

The Petroleum Industry of Serbia (NIIS) continued its slight upward trend despite the drop in the crude oil price on the global market and the negative sentiment in the global stock markets. The stock rose 1.4% to RSD 674 with a turnover of RSD 8.9m. The stock recorded its highest level since March 2020 due to the recent announcement of quarterly results.

Shares in Dunav Osiguranje (DNOS) fell 3% to RSD 1,067 with a small turnover of RSD 5.8m. The stock fell after a month below RSD 1,100, recording a drop of almost 54% since the start of the year.

Once again, Jedinstvo from Sevojno (JESV) was among the most traded stocks, slightly decreasing to RSD 8,000. The momentum for the stock arose with the company itself, which renewed its share buyback program, as well as the approach of the record date for the dividend from this year’s profit, which is traditionally on December 31.

Shares in Metalac (MTLC) returned to an RSD 1,600 level with light trading, while Belgrade Aerodrom (AERO) oscillated narrowly around RSD 1,500. The airport in Belgrade announced that it achieved a record number of passengers in November, marking the first month that exceeded the traffic of 2019 after the pandemic started. Belgrade Airport controls the implementation of the concession over the airport managed by the French VINCI.

WEEKLY REPORT, December 12-16, 2022