Belex declines in holiday-shortened week

The holiday trading week saw modest turnover, with a new decline in the domestic stock market. The Belex15 index posted a slight decline of 1.0% to 1,243.5 points. Meanwhile, the total turnover on the market stood at RSD 288.2m (EUR 2.5m).

The most active stock was Dunav Osiguranje (DNOS), which recorded a slight decline to RSD 1,850 with a turnover of RSD 7.5m. Shares in the largest domestic insurance company have seen a modest 2.8% increase so far this year, following last year’s jump of 31%.

Messer Tehnogas (TGAS) led the decliners, with a 6.9% decrease to RSD 34,000 on low volume of RSD 0.7m. The stock has not been at this level since May of last year, and since autumn it has been trading mainly in the RSD 36,000-37,400 range.

Belgrade Airport (AERO) closed the week unchanged at RSD 2,250, with a moderate level of trading. The company has announced that it has completed the new share issue, generating approximately EUR 32m in proceeds. The shares were issued at a price of RSD 1,278.4. Following the registration of the new issue, it is anticipated that there will be increased pressure on the stock.

WEEKLY REPORT, February 16-20, 2026