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Robust growth continues in Serbian stock market for second consecutive month

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For the second consecutive month, Serbia’s domestic stock market has experienced significant gains, marking an upward trend not witnessed since 2007. The Belex15 index, representing the most traded stocks, surged by nearly seven percent in March to nearly 990 points, delivering a remarkable yield of 13.1 percent since the year began. Momentum reports that the total market turnover in March reached 3.9 billion dinars (approximately 33.1 million euros).

Messer Tehnogas (TGAS) emerged as the most traded stock, with transactions amounting to 62.7 million dinars, largely attributed to the announcement and subsequent publication of a takeover bid by its majority owner. Dunav Osiguranje (DNOS) also witnessed substantial turnover of 31.3 million dinars, while Naftna Industrija Srbije (NIS) recorded trading valued at 27 million dinars.

Dunav Osiguranje led the gainers following the announcement of its robust business performance for 2023. Dunav saw a significant surge of 17.5 percent, reaching 1,048 dinars, while NIS experienced a double-digit increase of 10.1 percent, reaching 860 dinars. Tehnogas approached the takeover offer price, recording a growth of 6.7 percent to 24,850 dinars.

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However, Jedinstvo Sevojno (JESV) was among the few stocks that experienced losses, declining by 1.4 percent to 7,399 dinars, after leading the gainers in the previous month.

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