Belex increases slightly on low turnover

The domestic stock market rose slightly last week, with stocks outside the index basket dominating. Total turnover on the market amounted to RSD 125.3m (EUR 1.1m), while the Belex15 index rose by 0.4% to 1,115.0 points.

The most active stock in the index basket was insurer Dunav Osiguranje (DNOS), which rose slightly to RSD 1,304 on a turnover of RSD 8.1m. Dunav was above the RSD 1,300 level most of the week amid strong demand. The company’s subsidiary, Dunav Re, announced H1 financial reports, showing a profit of RSD 668.5m, more than double last year’s result.

The Petroleum Industry of Serbia (NIIS) weakened by 1.6% to RSD 821 with a turnover of RSD 7.9m. The price of Brent rebounded by more than 4% last week, but investors remained concerned, mainly due to poor developments in the Chinese market.

Other stocks in the index basket saw drastically lower turnover, and among the gainers were Metalac (MTLC) and Impol Seval (IMPL), with gains of 4.9% and 3.1%, respectively.

The most active stock on the market was Krusevac-based Jugoprevoz (JGPK), where the consolidation of ownership continued for RSD 8,000 per share. About 13% of the total number of shares changed hands. Among the more traded stocks were Informatika (INFM), which remained unchanged at RSD 5,000, and Goša FOM (GFOM) soaring 16.4% to RSD 1,760.

WEEKLY REPORT, September 16-20, 2024