NIS in the red again, Belex slightly up

The domestic stock market strengthened last week despite the downward trend of the largest company on the stock exchange, the Petroleum Industry of Serbia (NIIS), has continued. Thanks to government bonds, total turnover on the market reached RSD 502.6m (EUR 4.3m), while the Belex15 index rose 0.4% to 1,145.9 points.

The most active stock was Dunav Osiguranje (DNOS), which rose 1.0% to RSD 1,341 with a turnover of RSD 12.1m. At the traditional Insurance Days, the company’s management announced that gross premium growth of 14.8% was achieved this year, with a total market share of 26% retained.

Messer Tehnogas (TGAS) jumped 2.0% to RSD 34,697 with a turnover of RSD 7.5m. The stock is still quoted near its historical high of RSD 35,500, which was reached in early September after the announcement of the second takeover bid intention by majority owner Messer.

NIS fell 1.1% to RSD 791 with a turnover of RSD 6.6m. For the third week, the stock recorded a decline in value. On Friday, NIS registration of the company’s corporate bonds began and will be open till December 13. The planned volume of the issue is EUR 50m, with a gross interest rate of 6.5%.

Gornji Milanovac-based Metalac (MTLC) strengthened by 0.5% to RSD 1,950 with a turnover of RSD 3.9m, while Impol Seval (IMPL) weakened by 0.7% to 7,700 with a turnover of RSD 3.1m.

WEEKLY REPORT, November 25-29, 2024