Dunav Osiguranje at 52w high, Belex up 1.6%

The final week of January saw a surge in the stock market and solid total turnover, driven by government bonds. The Belex15 index rose 1.6% to 1,278.5 points, while total turnover reached RSD 1.5 billion (EUR 12.9 million).

Insurer Dunav Osiguranje (DNOS) was the most active stock, finally surpassing the psychological RSD 1,800 threshold with a 6% weekly jump. It recorded a high turnover of RSD 28.2m and closed the week at RSD 1,855.

The Belgrade Airport (AERO) closed the week flat at RSD 2,350, with a turnover of RSD 2.5m. The company announced an 11% increase in FY25 net income of RSD 512.7 million, despite a decline in operating profit. At the same time, the company announced that existing shareholders subscribed 69% of the new issue of shares, for RSD 1,278.4 per share.

Other stocks recorded much weaker turnover. Constructor Energoprojekt Holding (ENHL) was the top performer, achieving a 16% growth to RSD 580, with a modest overall turnover. Jedinstvo Sevojno (JESV) decreased a 2.5% to RSD 7,800, also with weak turnover. This company will announce the 4Q and FY25 business results today.

WEEKLY REPORT, January 26-30, 2026