Belgrade Bourse Indices End Mostly Down in Listless Trading

“Nothing happened here today. The indices fell because there are no serious investors,” a local broker with Hypo Alpe-Adria-Securities brokerage told SeeNews.

The turnover on the Belgrade Stock Exchange (BELEX) totalled some 66 million dinars ($968,700/756,500 euro), almost unchanged from Thursday’s 69.5 million dinars.

“There is no money on the market, the liquidity is low,” the broker said.

The blue-chip BELEX15 index fell by 1.11% to 684.62 points on Friday after dropping 0.76% on Thursday. The index has lost around 71% since the beginning of the year due to increased risk aversion among investors fuelled by the global financial crisis.

“It is possible that we [the Belgrade bourse] have reached the bottom so the index will probably not have any dramatic falls,” the broker said.

The composite BELEXline index lost 0.34% to 1,416.59 points on Friday, after falling by 0.87% on Thursday. The joint SRX index of the bourses in Belgrade and Vienna gained 2.49% to 335.83.

Edible oil producer Dijamant was the top gainer, adding 14.29% to 20,000 dinars with a single share changing hands. Information technology company Informatika was the second-biggest advancer, closing up 12.17% to 5,799 dinars per share in 869,850 dinars of turnover.

Furniture producer Simpo Vranje was the biggest loser, dropping 6.33% to 564 dinars per share in 241,862 dinars of turnover.

Lubricants producer Fabrika Maziva FAM was most traded, adding 2.46% to 1,332 dinars per share in 15 million dinars of turnover.

(1 euro=87.2473 Serbian dinars)