Belex increases by 2%, NIS continues its upward trend

The Serbian stock market registered growth last week, and the turnover again was dominated by the Petroleum Industry of Serbia (NIIS). The total turnover on the market increased slightly compared to the previous week to RSD 117.6m (around EUR 1m). The Belex15 index jumped almost 2% to 891.5 points, while this year has recorded a surge of more than 8%.

NIS recorded a turnover of RSD 69.2m with a price increase of 1.5% to RSD 759. The multi-week growth trend of NIS has brought increased turnover on the stock, which is 4-5 times higher than in the previous year. The investment public is still bidding on the size of the company’s expected dividend this year, while high-ranking government officials have remained vague about expectations for the distribution of last year’s record profits.

Messer Tehnogas (TGAS) was among the most traded stocks for the second week in a row, with a decline of 1.2% to RSD 13,140. The total turnover amounted to RSD 8.1m.

Belgrade Airport (AERO) rose almost 2% to RSD 1,839 with a turnover of RSD 6.5m, while Dunav Osiguranje (DNOS) registered a trading value of around RSD 5m on almost unchanged levels.

Energoprojekt Holding (ENHL) surged 25.7% to RSD 440, but on a tiny volume. The stock, which used to be among the most traded issues for a long time, fell into oblivion following the takeover with its weight in the index basket of just 2.2%.

WEEKLY REPORTS, February 27 – March 3, 2023