Dunav pushes Belex up to a new 52w high

The domestic stock market has been experiencing continuous growth since the end of April, and this trend continued last week. The Belex15 index increased by 1.4% to 1,188.7 points, while the total trading turnover remained at a modest RSD 25.4m (EUR 0.2m).

The most active stock was Dunav Osiguranje (DNOS), which saw a 4.3% increase to RSD 1,512, effectively offsetting the decline experienced after the dividend cut-off in mid-April. The total turnover in trading shares of the largest domestic insurance company amounted to RSD 9.0m.

Last week, shares of Messer Tehnogas (TGAS) were traded at approximately the RSD 35,000 level, with a turnover of RSD 2.9m. The AGM of the company is scheduled for Tuesday, June 17, at which a decision will be made regarding the proposed dividend of RSD 1,115 per share, representing a 3.2% yield.

Other stocks from the index basket have shown significantly lower performance. Metalac (MTLC) experienced a 4.5% increase to RSD 2,037, contributing to the index’s record value despite low turnover. Conversely, shares in Energoprojekt Holding (ENHL) on a low volume decreased by 9.1% to RSD 500.

WEEKLY REPORT, June 9-13, 2025