Belgrade Airport slumps, Belex15 decreases 1.3%

The domestic stock market continued its downward trend for the second week in a row due to a slump in the shares of Belgrade Airport (AERO). Total turnover on the market amounted to RSD 817.3m (about EUR 7m), while the index of the most liquid shares, Belex15, weakened by 1.3% to 870.6 points.

The Belgrade Airport was the most active stock, with a turnover of RSD 17.6m and a stock price decrease of 5.4%. Since mid-September, the stock has lost about 16% due to heavy selling pressure from a single foreign investor. This stock closed the week at RSD 1,700, where it was seen last time at the end of January.

Shares in the Petroleum Industry of Serbia (NIIS) did not have a good trading week either, despite the attractiveness of oil businesses globally due to the conflict in the Middle East. The stock closed the week at RSD 765, down 1%, with a turnover of RSD 12m. In seven days, NIS will announce Q3 business results and show how much the company managed to neutralize poor Q2 results.

Dunav Osiguranje (DNOS) increased by 2.1% to RSD 990 with a turnover of RSD 6.8m, executed mainly at RSD 1,000. The stock records the increased investors interest in the past period, but not enough to break the barrier of RSD 1,000, where the stock was seen last time in mid-July.

In addition to Belgrade Airport, the losers were Impol Seval (IMPL) and Messer Tehnogas (TGAS), which lost 2.5 and 1.2%, respectively. On Friday, Tehnogas paid a dividend from last year’s profit in the amount of RSD 450 per share.

WEEKLY REPORT, October 16-20, 2023