Belex declines 2%, government bonds increase turnover

The domestic share market experienced a weakening last week, while the total turnover was supported by the trading of government bonds. The total turnover on the market amounted to RSD 976.4m (EUR 8.3m), while the Belex15 index fell by 2.0% to 1,203.8 points.

The most active stock was the Belgrade Airport (AERO), which remained at the unchanged level of RSD 2,000 with a turnover of RSD 6.1m. The company announced its FY25 business report last week, revealing a net income of RSD 340.1m, marking an 18% increase compared to the previous year.

Other stocks within the index basket demonstrated significantly lower levels of turnover, with Dunav Osiguranje (DNOS) not being among the most actively traded stocks for a considerable period. Following the dividend cut, the stock suffered a 9.5% decline, closing the week at RSD 1,811. This reaction was a delayed response to the news due to the illiquid market. As is known, the company will pay a gross dividend of RSD 124.63 dinars per share, a slight increase compared to the year before.

The road company Preduzeće za puteve Valjevo (PPVA) was the clear gainer, with an impressive 20% increase to RSD 3,000. The company reported a record FY25 profit of RSD 1.6bn, which is RSD 1bn more than the market capitalisation of the company.

WEEKLY REPORT, April  20-24, 2026