Tehnogas lifts Belex again

For the second consecutive week, the domestic stock market saw robust growth, propelled by a notable surge in Messer Tehnogas (TGAS). The Belex15 index rose by 3.8% over the week, reaching 1,310.3 points, while total market turnover reached RSD 247.6m (EUR 2.1m).

Shares in Tehnogas have reached a significant psychological milestone of RSD 50,000, marking a substantial weekly gain of 17.1%. Total trading volume, constrained by weaker supply, stood at RSD 4.4m. There is currently no public information regarding a takeover bid from Messer, which, in similar past instances, has served as the main catalyst for stock gains.

The most active stock on the market was Impol Seval (IMPL), which increased 7% to RSD 5,991, with a turnover of RSD 9.6m. The stock had remained at around RSD 5,500 for almost two months, with low trading volume, following the company’s substantial losses last year.

Insurer Dunav Osiguranje (DNOS) was trading at around RSD 1,950, with a turnover of RSD 4.1m, while Metalac (MTLC) posted a slight dip to RSD 2,033 on light turnover. Belgrade Airport (AERO) also saw a slight drop to RSD 2,078, with similarly low investment activity.

WEEKLY REPORT, August 10-14, 2026