Belex in summer mode, NIS declines slightly

The last five trading days saw nothing new to the domestic capital market. Total turnover was modest, and volatility in the key stock indices was minimal. The index of the most liquid shares, Belex15, rose by 0.1% to 986.7 points, while the total turnover on the market amounted to RSD 94.8m (EUR 0.8m).

The Petroleum Industry of Serbia (NIIS) was the most active stock, with a small turnover of RSD 6.4m and a drop of 1.4% to RSD 806. The stock has recently been traded ex-dividend, but weak market liquidity and the activity of the company’s largest minority shareholders have prevented a sharper decline. During the week, the stock fell below RSD 800 but was brought back above this psychological level very soon.

Messer Tehnogas (TGAS) recorded a turnover of RSD 2.4m with a slight price increase of 1.6% to RSD 24,375. This company reported that it held the AGM, which approved the payment of a dividend of RSD 600 per share.

Dunav Osiguranje (DNOS) continued a series of mild fluctuations. Last week, shares of this insurance company recovered by 1.1% to RSD 975 on a turnover of RSD 1.6m. The company announced it would pay this year’s dividend to shareholders on July 5.

Beyond the index basket, PPT Armature (PPTA) remained the focus of investors’ interest, rising another 39% to RSD 851 on turnover of RSD 3.5m. The stock has almost doubled in value over the past month, driven by solid fundamentals and the fact that the company does not have a controlling shareholder.

WEEKLY REPORT, June 17-21, 2024