Dunav lifts Belex for second week in a row

Over the past week, the domestic stock market experienced a continuation of tiny investment activity and modest growth, primarily driven by insurer Dunav Osiguranje (DNOS). Total market turnover reached RSD 86.6m (EUR 0.7m), while the Belex15 index rose by 0.8% to 1,242.7 points.

The most active stock was Dunav, which reached a new multi-year high of RSD 2,100. The total turnover for the stock amounted to RSD 25.0m, and it closed the week up 3.5% at RSD 2,074. On Friday, Dunav scheduled its annual general meeting and proposed a gross dividend of RSD 124.63 per share (6.0% yield), slightly higher than last year’s RSD 121.45 per share.

Belgrade Airport (AERO) closed the week unchanged at RSD 2,000, with a turnover of RSD 12.6m. The stock has stabilised at this psychological threshold following the recently completed capital increase, accompanied by increased trading intensity.

Iritel (IRTL) was the week’s top gainer, surging 14.5% to RSD 1,450 on a turnover of RSD 1.6m. Within the index basket, alongside Dunav, Impol Seval (IMPL) also appeared on the gainers’ list, rising 2.7% to RSD 7.290. The constructor Energoprojekt Holding (ENHL) was the worst performer, dropping 15.4% to RSD 490.

WEEKLY REPORT, March 23-27, 2026