The downward trend of the domestic stock market continued last week with modest investment activity. Total turnover on the market, including government bonds, amounted to just RSD 36.3m (EUR 0.3m), while the index of the most liquid shares, Belex15, fell 0.6% to 841.2 points.
The most traded stock was Dunav Osiguranje (DNOS) which recorded a turnover of RSD 22.4m. The stock closed the week below RSD 1,300 level last seen three months ago. The global stock market, which continued sharp correction during the week, added a pressure on the stock.
Shares in the Petroleum Industry of Serbia (NIIS) fell slightly to RSD 628, with one of the weakest weekly turnovers of just RSD 0.8m. Brent crude oil price fell to its lowest level since January this year as the dollar continued to strengthen and recessionary pressures increased after a more hawkish Fed. Shares in Impol Seval (IMPL) fell 3.3% to RSD 5,707 with low volume after the demand for the stock dried up. The stock is still up 54% in 2022 so far.
Preferred shares of Philip Morris (DINNPB) increased 1.3% to RSD 7,799, with light trading. The stock continued its upward trend began with the announcement of the half-year results, when the company announced a record net income of RSD 3.26bn, up 72.9% compared to 2021. Shares in Messer Tehnogas (TGAS) closed the week unchanged at RSD 14,850 with increased pressure on the ask side. The stock has decreased 5.4% in 2022 so far, while the 52w high level reached last September at RSD 17,000.
WEEKLY REPORT, September 19-23, 2022