Belex increases to highest level since early October

The domestic stock market reached its highest level since the beginning of October but on weak investment activity. Total turnover on the market amounted to RSD 44.4m (EUR 0.4m), while the Belex15 index rose by 1.4% to 891.6 points.

The most active stock on the market was Belgrade Airport (AERO), which jumped 5.9% to RSD 1,821 with a turnover of RSD 22.6m. Most of the turnover was executed in a range of RSD 1,660-1,700, while the last trading day saw strong growth on modest volume.

Dunav Osiguranje (DNOS) reached on Tuesday a RSD 1,000 level but closed the week unchanged at the already established level of RSD 980. Total turnover amounted to RSD 5.3m. The company’s management announced that this year’s weather disasters resulted in liquidated damages costs of almost RSD 1bn, which will probably hurt the company’s profitability in H2 2023.

The Petroleum Industry of Serbia (NIIS) recorded a slight decline after several weeks of gains. Total turnover was only RSD 2.2m, mainly due to the increased supply, which made it difficult to find buyers at prices above RSD 800.

Messer Tehnogas (TGAS) fell by 1.1% to RSD 15,700 on a turnover of less than RSD 1m, while Sevojno-based Jedinstvo (JESV) rose by 4.3% to RSD 7,299 on a tiny turnover.

WEEKLY REPORT, November 27 – December 1, 2023