Holiday shortened week brings low volume on Belex

The first trading week of the new year saw a slight change in the stock market index. Most noteworthy were the events after the market closed on Friday when the official US sanctions against the Petroleum Industry of Serbia (NIIS) were announced. Last week, the total market turnover was a modest RSD 47.9m (EUR 0.4m), while the Belex15 index decreased slightly to 1,146.6 points. 

NIS was the most actively traded stock, with a turnover of RSD 18.2m and a price increase of 0.9% to RSD 761. The company’s stock has garnered attention following the announcement of US sanctions against Russian oil companies, including subsidiaries like NIS, made on Friday afternoon. Domestic state officials have stated that they have received detailed instructions from the US administration, which consists of a request to completely remove the Russian ownership in the company. 

Belgrade Airport (AERO) continued its previous trend, fluctuating slightly around the RSD 2,000 mark. The stock turnover amounted to RSD 11.0m, mostly executed at the RSD 1,995 level. 

Dunav Osiguranje (DNOS) was another frequently traded stock, with a modest turnover of RSD 1.8m and a price decline of 1.4% to RSD 1,356. Metalac (MTLC) was among the losers in the index, too, experiencing a slight drop to RSD 1,997 on light trading. 

Shares in Energoprojekt Holding (ENHL) rose by 0.5% to RSD 377, with light trading totaling RSD 0.2m. The public takeover bid from the majority owner, Napred Razvoj, at RSD 375 per share, will expire at noon, January 13.

WEEKLY REPORT, January 8-10, 2025