Belex continues upward trend, NIS most traded stock

The domestic stock market has continued its growth after the Belex15 index broke through the psychological barrier of 1,000 points the previous week. Over the past five trading days, this basket of the most liquid stocks rose by 0.5% to 1,015.1 points, while total turnover amounted to RSD 1.68bn (EUR 14.3m).

The most active stock was the Petroleum Industry of Serbia (NIIS), which fell 1.6% to RSD 855 on a turnover of RSD 97.0m. The company announced it will present Q1 financial results on Friday, April 26, which will be significantly affected by the implementation of the overhaul of the Pančevo refinery, which began at the end of February.

Shares in Dunav Osiguranje (DNOS) fell by 4.7% to RSD 982 with a turnover of RSD 6.3m. The stock decreased below the RSD 1,000 mark again after it went ex-dividend on April 12. The company will hold its AGM on April 25.

The takeover bid of Messer Tehnogas (TGAS) closed last week, with the majority owner of the company purchasing an additional 3.5% of the shares, increasing its stake to 85.6%. Messer did not fulfill its primary intention of exceeding the 90% threshold and squeezing out the remaining minorities. At the same time, the stocks in the company rose by 8% to 27,000 dinars.

Constructor Energoprojekt Holding (ENHL) recorded a slight increase to RSD 352 on turnover of RSD. Preferred shares in Philip Morris (DINNPB) fell 2.8% to RSD 7,580 after the company announced financial results below market expectations. The company’s FY23 net income rose slightly to RSD 6.3bn.

WEEKLY REPORT, April 15-19, 2024