The Belex15 index, which tracks the most liquid stocks, reached its highest point since August 2008, although on relatively low investment activity. The index increased 1.5% to 1,401.4 points, while total market turnover remained modest at RSD 38.5m (EUR 0.3m).

Index growth was led by Messer Tehnogas (TGAS), which hit an all-time high of RSD 65,800 despite a relatively low trading volume at this level. Total weekly turnover amounted to RSD 6.7m, with most transactions executed around the RSD 60,000 level.

Other stocks also showed significantly weaker turnover. Shares in Dunav Osiguranje (DNOS) posted a 1.1% decline, closing the week at RSD 1,850 with a turnover of RSD 1.3m. Following weeks of growth, shares in Insa (INSA) also snapped its upward trend, dropping 2.7% to RSD 2,610 with a turnover of RSD 1.2m.

Alongside Tehnogas, Jedinstvo Sevojno (JESV) was another winner, up 5.3% to RSD 10,000 on light trading. Shares in this constructor have reached a multi-year high and have risen about 22% in 2026 so far.

WEEKLY REPORT, November 2-6, 2026 

Belex15
Close 1,401.38
Weekly change (abs) +21.29
Weekly change (%) +1.54%
Weekly high 1,412.92
Weekly low 1,371.37
Traded value (RSD) 8,040,321
Most active
Shares Closing price Change Trading value (RSD)
TGAS 65,800  +9.75% 6,671,350
DNOS 1,850    -1.12% 1,261,663
INSA 2,610   -2.72% 1,167,479
DINNPB 9,012  +0.13% 675,910
GFOM 1,232 -5.23% 607,743
Gainers
Shares Closing price Change Trading value (RSD)
RPID 494  +26.67% 25,688
TGAS 65,800  +9.75% 6,671,350
JESV 10,000  +5.26% 30,000
 DINNPB 9,012  +0.13% 675,910
Decliners
Shares Closing price Change Trading value (RSD)
GFOM 1,232 -5.23% 607,743
IRMV 2,400  -4.00% 4,800
 INSA  2,610   -2.72% 1,167,479
 AERO  2,028   -1.89%  77,308
 DNOS  1,850    -1.12% 1,261,663