BELEXsentiment index sinks to 5-month low in July

In July, the BELEXsentiment index sank to 100 points, signalling expectations of stagnation, from the 13-month high of 144.64 points recorded in June, the Belgrade bourse said in a statement on Monday. It briefly entered negative territory in January, sinking to 92 points, then saw values of above 100 points in the following five months of 2024.

BELEXsentiment is a stock exchange indicator gauging the opinions of key market participants regarding future market movements. It serves as an investment tool for the broader investment community, with values ranging from 0 to 200 points. A score below 100 points signals negative market sentiment, while a score above 100 points indicates positive expectations. The index ended 2023 at 130.94 points.

BELEXsentiment is calculated on a monthly basis as a weighted value of the votes of three groups of voters. They comprise stock exchange members; portfolio managers of investment and voluntary pension funds; and the general public, i.e. users of the bourse's website. The votes of the first two groups have the biggest weight in the index.