Belex sinks 2.7% amid delayed effect of global stock market turmoil

The domestic stock market recorded a sharp decline last week after the global stock market turmoil poured over to Belex with some delay. The index of the most liquid shares, Belex15, plummeted 2.7% to 805.5 points, while the total turnover amounted to RSD 129.0 (EUR 1.1m).

The most active stock was insurer Dunav Osiguranje (DNOS), which fell 5.7% percent to RSD 1,151 with a turnover of RSD 9.8m. The most liquid stock on the market fell within reach of this year’s low recorded in May just after free shares distribution to employees was completed.

Shares in the Petroleum Industry of Serbia (NIIS) recorded a historically lowest turnover, decreasing for a moment below the level of RSD 600. NIS posted a turnover of RSD 1.9m and closed the week at RSD 601.

Shares in Belgrade Airport (AERO) fell 1.9% to RSD 1,423, while Messer Tehnogas (TGAS) led the losers with a 9.7% drop to RSD 13,101. The stock hit the lowest level of Tehnogas since the beginning of 2021, whose business results this year are under pressure from higher energy and material costs.

Gornji Milanovac – based Metalac (MTLC) was among the rare stocks that recorded a price increase. Shares of a cookware producer recovered by 1.9% to RSD 1,650 and have dropped 11.3% since the beginning of the year.

WEEKLY REPORT, October 17-21, 2022