The domestic stock market recorded the largest increase of the year last week, following a strong recovery in the shares of Dunav Osiguranje (DNOS). The growth of the market’s most liquid share, Naftna industrije Srbije (NIIS), contributed to the increase, also. The Belex15 index rose by 3.3% to 960.6 points, yielding in 2024 so far almost 10%. Total turnover on the market amounted to a modest RSD 64.7m (EUR 0.6m).

For the first time since September, Dunav closed above the RSD 1,000 mark with a turnover of RSD 12.1m. Shares of the largest domestic insurance company jumped 13.2% to RSD 1,018, with strong demand, especially on Friday. This company has not published its FY23 results yet, while the management announced that it maintained its leading position last year, with an increase in insurance premiums of 14.3% to around RSD 40bn.

The most active stock was Messer Tehnogas (TGAS), which rose 1.7% to RSD 23,690 on a turnover of almost RSD 14m. Investors are still waiting for the announcement of a public takeover bid after Messer announced its intention on February 23.

As the pressure on the supply side eased, NIS recovered 4.1% to RSD 813 on a modest turnover of RSD 6.1m. Previously, the stock had been on a sharp downward trend, falling to around RSD 780 levels.

Belgrade Airport (AERO) remained stable at RSD 1,800 with a turnover of RSD 3.7m, while Impol Seval (IMPL) rose 5.4% to RSD 5,500 with a modest turnover of RSD 0.3m. The stock in this aluminum rolling mill had heavily traded at the end of February at the RSD 5,200 level.

WEEKLY REPORT, March 4-8, 2024

Close 960.58
Weekly Change (abs) +30.23
Weekly Change (%) +3.25%
Weekly High 964.45
Weekly Low 930.57
Traded Value (RSD) 37,311,764
Most Active
Shares Closing Price Change Traded Value (RSD)
TGAS 23,690 +1.67% 13,933,216
DNOS 1,018 +13.24% 12,070,217
NIIS 813 +4.10% 6,134,231
AERO 1,800 0.00% 3,704,400
ZTPK 6,170 -0.13% 3,013,456
Shares Closing Price Change Traded Value (RSD)
PUPO 548 +56.57% 252,150
DNOS 1,018 +13.24% 12,070,217
PUUE 2,400 +11.63% 120,450
IMPL 5,500 +5.38% 268,100
NIIS 813 +4.10% 6,134,231
Shares Closing Price Change Traded Value (RSD)
ZTPK 6,170 -0.13% 3,013,456
AMSO 2,300 -0.04% 50,600