Shares in Tehnogas lifts Belex15 index 3.6%

A surge in Messer Tehnogas (TGAS) shares has led to a notable increase in the domestic stock market, as evidenced by a significant 3.6% rise in the Belex15 index. The total turnover on the market, in the absence of large trading in government bonds, amounted to just RSD 46.0m (EUR 0.4m).

Tehnogas rose to a new record high of RSD 45,500 and closed the week up 18.7% to RSD 42,566. The total stock turnover amounted to RSD 8.0m. The substantial increase in Tehnogas shares could be linked to a new Messer’s attempt to consolidate ownership of the company, following two unsuccessful bids in 2024.

The most active stock was Belgrade Airport (AERO), which recorded a turnover of RSD 10.6m, primarily at RSD 2,085. After a while, Impol Seval (IMPL) was among the most actively traded stocks, with a turnover of RSD 4.4m, predominantly at the RSD 5,500 level. Following the FY25 loss, the stock has decreased 27% in 2026 so far.

Shares in insurer Dunav Osiguranje (DNOS) decreased slightly to RSD 1,837 with a turnover of RSD 1.9m. The preferred shares of Philip Morris (DINNPB) also declined to RSD 9,018, while Jedinstvo Sevojno (JESV) was among the week’s gainers, jumping 4.0% to RSD 9,000.

WEEKLY REPORT, August 3-7, 2026