Belex continues downward trend on low volume

The past trading week saw modest investment activity with a slight downward trend. Total turnover amounted to RSD 63.1m (EUR 0.5m), while the Belex15 index fell by 0.2% to 985.5 points.

The most active stock was the Petroleum Industry of Serbia (NIIS), with a turnover of RSD 24.1m and a slight decrease in price to RSD 817. Since Friday, the stock has been trading without the right to this year’s dividend, so we should expect the price correction to continue. As already known, the management proposed to pay a dividend of RSD 64.26 per share.

For the first time in a long while, a constructor, Energoprojekt Holding (ENHL), was among the most traded stocks, with a turnover of RSD 13.3m at an unchanged price of RSD 367. After Napred took over the company in 2017 at RSD 1,501 per share, its stocks have been poorly traded, with a sharp drop in value.

The shares in Dunav Osiguranje (DNOS) fluctuated slightly in the range of RSD 960-970 with a modest turnover of RSD 4.1m, while Gornji Milanovac-based Metalac (MTLC) fell by 3.1% to RSD 1,653. This company held its AGM, approving the payment of a dividend of RSD 90 per share.

The market’s top gainer was PPT Armature (PPTA), which jumped 42.6% to RSD 613 on revenues of RSD 8.8m. This company is one of the rare issuers on Belex that does not have a majority shareholder, and no owner holds more than two percent of the total number of outstanding shares.

WEEKLY REPORT, June 10-14, 2024