Belex continues upward trend, Belgrade Airport most traded stock

The last five trading days saw a continuation of the upward trend that started at the beginning of September. Total market turnover amounted to RSD 861.2m (EUR 7.4m), while the Belex15 index rose by 0.2% to 1,142.5 points.

The most active stock was the Belgrade Airport (AERO), which hovered around the RSD 2,000 mark with a turnover of RSD 22.6m. Since the beginning of the year, the Belgrade Airport, which controls the implementation of the airport concession, has risen by 15.4% and is currently close to history high with a market capitalization of EUR 653m.

Shares in the Petroleum Industry of Serbia (NIIS) fell slightly to RSD 824 on turnover of RSD 12.2m. The price of Brent crude oil was volatile last week but ended the week marginally higher at USD 78.9 per barrel.

Dunav Osiguranje (DNOS) rose by 0.7% to RSD 1,324 with a turnover of RSD 8.9m. This stock continues to see strong demand around the RSD 1,300 level, with sellers still mainly workers who received free shares in 2022.

Two weeks before the expiry of the takeover bid offer for the shares of Messer Tehnogas (TGAS) at the price of RSD 31,250, there is still strong demand on the market at the RSD 33,000 level. The total turnover last week amounted to RSD 4.9m, and on the demand side, numerous individual investors were encouraged by the strong demand of Sempiola fund at RSD 33,000.

WEEKLY REPORT, October 7-11, 2024