NIS decreases slightly in wild trading week

The domestic share market weakened for the second week in a row, while the total turnover increased significantly thanks to the trading of government bonds. The index of the most liquid shares, Belex15, weakened 0.5% to 878.9 points, while the total turnover in trading amounted to RSD 1.06bn (EUR 9.1m).

After several weeks of weak investment activity, shares in the Petroleum Industry of Serbia (NIIS) registered large fluctuations, falling below RSD 700 level for the first time since the end of January. A large part of the weekly turnover of RSD 20.3m has registered in just a single transaction at RSD 690. In the second half of the week, the stock recovered and ended the week at RSD 738 with a weekly drop of just 0.9%.

The shares in Dunav Osiguranje (DNOS) fell close to the psychological limit of RSD 1,000, while they closed the week with a drop of 5.2% to RSD 1,025. The Republic of Serbia, the majority owner of the company, submitted on Thursday a new profit distribution proposal, which the shareholders will consider at the AGM on April 27. According to the proposal, shareholders should receive a dividend in the gross amount of RSD 33.89 per share, with April 17 as the dividend day.

Belgrade Airport (AERO) jumped 1.9% to RSD 1,900 with a turnover of RSD 2.5m. Belgrade Airport, managed by the French VINCI through a concession, announced that it recorded record traffic in March, which was 27% higher than in the pre-pandemic year of 2019.

Shares of Impol Seval (IMPL) were the biggest winners in the index basket, with a growth of 5.9% to RSD 5,400 and a turnover of RSD 1.2m. The company will announce its annual results by the end of April. According to earlier management announcements, the aluminum rolling mill made a profit of over EUR 21m last year, despite a sharp drop in demand during the second half of 2022.

WEEKLY REPORT, April 10-13, 2023