Belex decreases to lowest level in almost year

The domestic stock market has continued a downward trend for the third week in a row on modest investing activity. The index of the most liquid shares, Belex 15, fell below 800 points for the first time since November last year. Total turnover amounted to just RSD 33.7m (EUR 0.3m).

The most active stock was insurer Dunav Osiguranje (DNOS), which decreased an additional 1.4% to RSD 1,135 with a turnover of RSD 11.7m. The stock fell to near 52-week low after several large investors significantly reduced their activity in the recent period.

Shares in Messer Tehnogas (TGAS) recorded a strong demand at above RSD 13,000, after a sharp decrease in its value a week earlier on low turnover. Shares of this producer of technical and medical gases recorded a total turnover of RSD 3.6m, mainly at an RSD 13,100 level.

The Petroleum Industry of Serbia (NIIS) recorded strong demand at the psychological limit of RSD 600, ending the week at RSD 603 with a turnover of RSD 2.4m. The company will announce Q3 results on Friday and it is widely expected it will achieve stellar business results for the period, but below the record performance in Q2 when the crude oil price was significantly higher.

After a long time, Fintel Energy (FINT) recorded a turnover of more than RSD 1m at an unchanged price of RSD 630. Belgrade Airport (AERO) decreased by 2.3% to RSD 1,390, its lowest level since April this year, with a turnover of RSD 1.4m.

WEEKLY REPORT, October, 24-28, 2022.