Belex decreases for first time in five weeks

The domestic stock market recorded its first decline since the end of June, with robust trading activity supported by strong demand for government bonds. The Belex15 index, which tracks the most liquid shares, experienced a slight decline of 0.2% to 1,218.7 points.

The most active stock was insurer Dunav Osiguranje (DNOS), which decreased to RSD 1,667 on turnover of RSD 6.0m. For the second consecutive week, the stock tested the RSD 1,700 level, but the increased supply led to a decline in the stock during the week.

Shares in Impol Seval (IMPL) increased by 2.6% to RSD 7,999, with a turnover of RSD 3.2m. The majority of this turnover was executed at the RSD 7,800 level. The government that runs the Akcionarski fond has announced that it will soon start selling its stakes in domestic companies, a 15% stake in Impol Seval among them.

Shares in Sevojno-based Jedinstvo (JESV) increased by 1.8% to RSD 8,500, with a turnover of RSD 0.9m. The company announced RSD 120m in H1 non-consolidated profit, a decrease of 12% on an annual basis.

The preferred shares of Philip Morris (DINNPB) rose slightly to RSD 9,211 with a turnover of RSD 1.2m, while the ordinary shares of the company (DINN) were also traded with a slight increase. The Akcionarski fond owns 16.2% of the company’s ordinary shares, which, according to announcements by government officials, could also be traded.

WEEKLY REPORT, July 28 – August 1, 2025