Belex slightly lower on poor stock turnover

The final week of June saw stagnation in the stock market indices and a slight increase in turnover thanks to the trading of government bonds. The total turnover on the market amounted to RSD 269.7m (EUR 2.3m), while the Belex15 index weakened slightly to 985.7 points.

The most traded stock was the Petroleum Industry of Serbia (NIIS), which continued its slight downward trend after passing the dividend cut-off. Total turnover amounted to RSD 9.4m, while the stock closed the week at RSD 800. The AGM, held last week, approved a gross dividend of RSD 64.26 per share after a quarter of the FY profit was distributed to shareholders, as in previous years.

Other stocks in the index basket saw much lower turnover. Dunav Osiguranje (DNOS) rose slightly to RSD 978 with a turnover of RSD 1.8m. The company will pay out this year’s dividend of RSD 51.6 per share on Friday, July 5.

Sevojno-based Jedinstvo (JESV) also held the AGM last week, approving a raised dividend of RSD 647.06 per share. Shares in the company rose 2.8% to RSD 7,450 but on a very modest turnover.

PPT Armature (PPTA), the biggest gainer outside the index basket over the past period, fell 22.4% to RSD 660 last week, with a turnover of RSD 2.7m. Despite this correction, the stock is still up more than 50% over the past month.

WEEKLY REPORT, June 24-28, 2024