Belgrade Airport, Dunav halts Belex’s downward trend

The final trading week of November saw the conclusion of the downtrend that had persisted since the beginning of the month. The Belex15 index, which tracks the most liquid shares, saw a 1.3% increase to reach 1,243.9 points, with a total turnover of RSD 146.2m (EUR 1.2m).

The most active stock from the index basket was insurer Dunav Osiguranje (DNOS), which saw a 2% increase to RSD 1,674, with a turnover of RSD 11.9m. The company has announced that the positive business trend has continued into Q3, with net income growing by 39.6% percent in the first nine months.

Gornji Milanovac-based Metalac (MTLC) maintained its position at RSD 2,150, recording a turnover of RSD 5.1m. Meanwhile, Belgrade Airport (AERO) demonstrated a notable increase of 4.5%, reaching RSD 2,299 with a turnover of RSD 1.2m. The stock almost reached its historical high level of RSD 2,300.

Outside the index basket, the most active stock were BAS (BASB), which recorded a turnover of RSD 41.1m with a price increase of 26.3% to RSD 1,515. Preferred shares in Philip Morris (DINNPB) remained flat at RSD 9,700, with turnover of RSD 1.7m.

WEEKLY REPORT, November 24-28, 2025