The Serbian stock market has virtually stagnated over the past five trading days despite increased selling pressure on several of the most liquid stocks. The Belex15 index weakened by 0.1% to 886.9 points, while the total turnover on the market amounted to RSD 634.8m (EUR 5.4m).

The Petroleum Industry of Serbia (NIIS) closed the week at RSD 736, the first time the stock exceeded the RSD 730 level since the end of June. The company announced it will announce its business results for the third quarter and the first nine months on October 31. The stock decline has started following the disappointing Q2 numbers, marked by the donation to the Serbian government for EUR 60m.

Gornji Milanovac-based Metalac (MTLC) rose 4.6% to RSD 1,580. The total turnover of RSD 8.7m was executed mostly at RSD 1,400 as a direct consequence of the selling pressure by a foreign fund that hastened to close its position in the company.

Similar pressure saw the Belgrade Airport (AERO), which fell by 2.3% to RSD 1,910 with a turnover of RSD 8.3m. The excessive supply has disrupted the usual supply and demand ratio on the stock, and this trend is likely to continue in the coming period.

Shares in Dunav Osiguranje (DNOS) also weakened by 1.3% to RSD 972 with a turnover of RSD 2.9, while Sevojno-based Jedinstvo (JESV) fell 2.9% to RSD 6,800 with a turnover of RSD 0.9m.

WEEKLY REPORT, September 25-29, 2023 

Belex15
Close 886.89
Weekly Change (abs) -1.15
Weekly Change (%) -0.13%
Weekly High 889.66
Weekly Low 875.26
Traded Value (RSD) 42,006,360
Most Active
Shares Closing Price Change Traded Value (RSD)
NIIS 736 +1.52% 19,646,200
MTLC 1,580 +4.64% 8,712,686
AERO 1,910 -2.25% 8,322,934
AVEN 1,800 -7.69% 4,224,721
DNOS 972 -1.32% 2,855,940
Gainers
Shares Closing Price Change Traded Value (RSD)
JGPK 7,990 +14.96% 319,600
GFOM 750 +13.64% 325,500
AMSOPB 850 +13.33% 170,000
MTLC 1,580 +4.64% 8,712,686
NIIS 736 +1.52% 19,646,200
Decliners
Shares Closing Price Change Traded Value (RSD)
AVEN 1,800 -7.69% 4,224,721
IRTL 1,150 -2.95% 17,250
JESV 6,800 -2.86% 850,000
AERO 1,910 -2.25% 8,322,934
DNOS 972 -1.32% 2,855,940