Belex indexes close week lower in tiny turnover

The worst weekly decline of the global stocks since June brought additional pressure on the BSE, which continued the slight downward trend with low investment activity. Total turnover reached RSD 593.8m (EUR 5.1m) thanks to the government bonds, while the index of the most liquid shares, Belex15, weakened by 0.2% to 846.7 points.

The most traded stock was Dunav Osiguranje (DNOS) which continued its slight downward trend, falling 2.3% to RSD 1,308. The total turnover in the stock was RSD 13.4m. The stock has lost 43.1% of its value in 2022 so far, primarily due to the increasing pressure on the ask side caused by the distribution of free shares.

Shares of the Petroleum Industry of Serbia (NIIS) broke the psychological barrier of RSD 630 with tiny trading. The total turnover amounted to RSD 3.8m in a narrow range of RSD 628-635. Shares in lender Alta Bank (JMBN) decreased slightly to RSD 3,745 with turnover of RSD 1.7m. In the first six months, the bank recorded a net income of RSD 126.1m compared to a modest profit of RSD 11.9m in the previous year.

Belgrade Airport (AERO) recorded a slight increase in value to RSD 1,498 with modest trading activity. Belgrade Airport, run by French VINCI, announced that it continued its traffic recovery in August, reaching 95% of its 2019 level. Vranje-based Alfa Plam (ALFA) closed the week flattish at RSD 18,700. The company’s majority owner, Amasis, previously announced his intention to take over the company, probably at the current price, at which he raised his stake to 88.4%.

WEEKLY REPORT, September 12-16, 2022