NIS reaches RSD 800 ahead of Q1 results announcement

The Serbian stock market broke the two-week downward trend thanks primarily to the jump in the shares of the Petroleum Industry of Serbia (NIIS). The index of the most liquid shares, Belex15, increased by 1.7% to 893.5 points, while the total market turnover amounted to a modest RSD 39.3m (EUR 0.3m).

The most active stock was the Petroleum Industry of Serbia, which jumped 6.1% to RSD 783 with a turnover of RSD 18.8m. The stock reached RSD 800 on Friday, its highest level since the end of 2014. The company will release Q1 business results after a trading day on Thursday, April 27, which should show what level of profitability the company could maintain this year after record profit in 2022.

Shares in Dunav Osiguranje (DNOS) recovered 1% to RSD 1,035 with a turnover of RSD 4.8m. The fact shareholders will not be left without a dividend this year supported the stock, although it already went ex-dividend on April 12.

Belgrade Airport (AERO) remained unchanged at RSD 1,900 with a turnover of RSD 2.6m. The company announced that it will publish its FY22 results on Wednesday, April 26.

Sevojno-based Jedinstvo (JESV) weakened by 1.3% to RSD 7,400 with a turnover of RSD 0.8m. This company will also announce FY22 results on Wednesday and Q1 results by the end of the week.

Shares in Metalc (MTLC) continued their upward trend, but with low turnover, the stock jumped 1.8% to RSD 1,730, its highest level in the last almost a year.

WEEKLY REPORT, April 18-21, 2023