Belex increases for first time in 2026

The BSE recorded its first week of growth in 2026, but turnover remained at fairly low levels. The Belex15 index rose by 0.4% to 1,258.4 points, while the total market turnover reached RSD 36.0m (EUR 0.3m).

Shares in Dunav Osiguranje (DNOS) were the most active, with a modest turnover of RSD 2.9m and a decline of 1.5% to RSD 1,750. At the end of last year, the stock reached the RSD 1,800 level, but then there was no permanent demand, and the price fell.

Metalac (MTLC) demonstrated resilience, recovering slightly to RSD 2,150, with trading of RSD 2.4m. This stock has recorded double-digit growth in value for the second consecutive year, with a rate of approximately of 13% last year.

Impol Seval (IMPL) remained around RSD 7,700 levels with a turnover of almost RSD 1.0m, while the priority shares of Philip Morris (DINNPB) consolidated at levels slightly below RSD 9,300 after passing the cut-off for the dividend. Jedinstvo Sevojno (JESV) fell by 2.4% to RSD 7,999, after the stock went ex-dividend on January 1.

WEEKLY REPORT, January 19-23, 2026