Belex little changes, US sanctions hit NIS

The domestic stock market remained relatively flat last week, with low levels of investment activity. The Belex15 index rose marginally to 1,224 points, while the total turnover on the market amounted to RSD 73.1m (EUR 0.6m).

Insurer Dunav Osiguranje (DNOS) was the most active stock, with a total turnover of RSD 4.1m. The trend of weakening demand for the stock continued last week, with a 2.1% drop to RSD 1,613.

Belgrade Airport (AERO) closed flat at RSD 2,200, with a turnover of RSD 1.8m and steady demand at this price. Jedinstvo Sevojno (JESV) was also actively traded, declining 1.2% to RSD 8,400.

Metalac (MTLC) gained 1.4% to RSD 2,180 after briefly hitting a multi-year high of RSD 2,200. Outside the index, Philip Morris (DINNPB) priority shares were the most traded, surging 4.8% to RSD 9,700 on RSD 0.8m turnover.

Last week, the Petroleum Industry of Serbia (NIIS) drew public focus as it began operating under US sanctions on Wednesday, after delays since February. The company stated it is working to resolve this and announced a dividend payment for 22 October.

WEEKLY REPORT, October 6-10, 2025