The domestic stock market increased for the third consecutive week, with a significant decrease in turnover compared to the previous week, due to reduced trading activity in government bonds. The Belex15 index increased a 0.8%, reaching 1,257.9 points, while the total market turnover amounted to RSD 208.3m (around EUR 1.8m).

The most active stock was Dunav Osiguranje (DNOS), which recorded a turnover of RSD 15.9 million, representing a 2.6% increase to RSD 1,744. Due to increased demand, the stock rose above the psychological threshold of RSD 1,700 and briefly reached a multi-year high of RSD 1,800.

Belgrade Airport (AERO) increased 2.2% to RSD 2,350, with a total turnover of RSD 1.1m. This stock increased despite the company’s announcement of a new share issue that, if successful, could increase the number of outstanding shares by 18%.

Following a prolonged period, a significant turnover of RSD 7.5m was achieved by Fintel Energija (FINT) at an unchanged level of RSD 650, while Impol Seval (IMPL) maintained its steady price of RSD 7,700 with a turnover of RSD 1.7m. In the current year, the stock has risen around 8% so far, although the company again suffered a H1 net loss.

WEEKLY REPORT, December 8-12, 2025

Belex15
Close 1,257.86
Weekly change (abs) +10.43
Weekly change (%) +0.84%
Weekly high 1,269.63
Weekly low 1,247.43
Traded value (RSD) 27,852,209
Most active
Shares Closing price Closing price Trading value (RSD)
DNOS 1,744 +2.59% 15,916,875
FINT 650 0.00% 7,471,100
IMPL 7,700 0.00% 1,709,400
AERO 2,350 +2.17% 1,053,200
TGAS 37,169 -0.62% 966,400
Gainers
Shares Closing price Closing price Trading value (RSD)
MLDP 14 +16.67% 3,612
PLSD 1,200 +9.09% 182,400
DNOS 1,744 +2.59% 15,916,875
AERO 2,350 +2.17% 1,053,200
GFOM 1,800 +0.06% 36,000
Decliners
Shares Closing price Closing price Trading value (RSD)
PPTA 350 -5.41% 213,150
TRBG 3,300 -2.94% 99,000
TGAS 37,169 -0.62% 966,400
ENHL 484 -0.41% 702,034
BASB 1,515 -0.07% 577,205