Belex decreases slightly, Dunav most active stock

Over the past five trading days, turnover recovered, while market indices experienced a slight decline. Total market turnover reached RSD 339.2m (EIR 2.9m), and the Belex15 index, tracking the most liquid shares, fell by 0.5% to 1,222.2 points.

Insurer Dunav Osiguranje (DNOS) was the most active stock, achieving a turnover of RSD 14.1m, with a 2.2% decrease to RSD 1,662. Dunav announced H1 business results, showing a strong growth in the leading domestic insurer’s business. Consolidated gross premium increased by 10.4%, while net income rose to RSD 2.9bn compared to RSD 1.9bn last year.

Other stocks in the index basket showed notably less investment activity, with minimal price changes. Jedinstvo Sevojno (JESV), set to announce its H1 consolidated results today, slipped slightly to RSD 8,490 with low turnover.

Preferred shares in Philip Morris (DINNPB) closed the week unchanged at RSD 9,350, with a turnover of almost RSD 2.0m. The company has announced solid growth in H1 profitability, with a strong performance overall. During the period, Philip Morris recorded RSD 18.5bn in revenue, up 13.8%, while net income increased by 11.2% to RSD 4.0bn.

WEEKLY REPORT,  September 22-26, 2025