Belex enters holiday mood with low level of turnover, volatility

The previous week brought a low level of trading activity on the stock market and weaker volatility among the liquid stocks. The total turnover reached RSD 906.5m (EUR 7.7m), thanks to government bonds, while the index of the most liquid stocks, Belex15, slightly weakened to 808.7 points.

The most traded stock was the Petroleum Industry of Serbia (NIIS), which closed the week at the unchanged level of RSD 674 with a turnover of RSD 9.7m. The weekly high NIS reached at RSD 680, but with a lot of pressure on the sell side at that level. The company has announced a new business plan with an expected CAPEX in 2023 of RSD 49.1bn, which is more than the capital expenditure in the pre-pandemic year.

Insurer Dunav Osiguranje (DNOS) fell 0.7% to RSD 1,060 with a turnover of RSD 3.6m. Dunav has recorded a slight downward trend throughout the week, primarily because demand for the stock has waned. For the first time, Dunav has been the most liquid domestic stock in the current year.

Preferred shares in Philip Morris (DINNPB) fell 1.8% to RSD 7,410 with a turnover of RSD 1.1m. The stock will turn ex-dividend on Thursday, December 29. Philip Morris recorded a surge in profitability in the first half of the year, increasing its net income by around 73%.

Among the more traded stocks were Alfa Plam (ALFA) and Belgrade Airport (AERO), with no price change compared to the previous week.

WEEKLY REPORT, December 19-23, 2022