Belex in the red for third week in row

The trend of extremely weak turnover continued last week, with a slight decrease in the index. The total turnover amounted to RSD 88.5m (EUR 0.8m), and the Belex15 index weakened by 0.2% to 1,228.5 points.

The most active stock was Dunav Osiguranje (DNOS), which traded within a narrow price range of RSD 1,640-1,665. The shares of the largest domestic insurance company experienced a slight decline of 1.0%, closing the week at RSD 1,641 with a turnover of RSD 8.2m.

Belgrade Airport (AERO) has recorded a turnover of RSD 2.2m at an unchanged level of RSD 2,200. The stock has grown by 10.3% in 2025 so far, while since the airport entered into the concession in 2019, it has increased by 57%, adjusted for the extraordinary dividend paid at the beginning of the concession.

Metalac (MTLC) experienced a slight decline, trading at RSD 2,150 dinars with a turnover of RSD 1.8m. Meanwhile, the constructor Energoprojekt Holding (ENHL), with the same turnover, closed the week flatish at RSD 483. The largest stock volume was achieved at RSD 506, before the stock fell to RSD 483 dinars on Friday.

WEEKLY REPORT, November 17-21, 2025