The Serbian stock market experienced growth for the first time since December of last year. The Belex15 index, which tracks the most liquid shares on the Belgrade Stock Exchange, increased by 1.3%, reaching 1,128.2 points. Total trading turnover amounted to 260.7 million dinars (approximately 2.2 million euros), according to a report by brokerage house Momentum.
The market’s growth was primarily driven by the performance of shares in “Messer Tehnogas” (TGAS), which saw a nearly 8% increase, reaching 34,000 dinars. The turnover for Messer Tehnogas shares was 1.7 million dinars. Since the beginning of the year, the shares have mostly been trading between 34,000 and 35,000 dinars, as investors await a potential move by the company’s majority owner, who previously attempted to consolidate ownership twice last year, though unsuccessfully.
The most traded stock in the Belex15 index was “Dunav osiguranje” (DNOS), which saw a slight gain of 0.7%, reaching 1,380 dinars. The turnover for these shares was just under five million dinars. Dunav osiguranje shares have been steadily rising this year, following a significant 46% increase in value last year.
Meanwhile, shares of “Metalac” (MTLC) dropped by 1.1%, reaching 1,975 dinars, with a turnover of 2.8 million dinars. Metalac shares had reached 2,000 dinars in October, following a strong 25% growth in 2024.
Other securities in the index basket saw weaker trading volumes. “Nikola Tesla” Airport (AERO) ended the week at 1,999 dinars, with a turnover of only half a million dinars. The stock has remained near this psychological threshold for some time, and now, there is slightly increased pressure on the supply side, according to Momentum’s report.
