Belgrade bourse sentiment index hits 12-month high in May

The BELEX15 blue-chip index has increased by 9.53% over the past 12 months and by 14.50% since the beginning of the year.

BELEXsentiment is a stock exchange indicator designed to gauge 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. The indicator is calculated on a monthly basis.

A score below 100 points signals negative market sentiment, while a score exceeding 100 points indicates positive expectations.

In May, the index rose to 133.28 points from 121.12 points in April, 122.11 points in March and 129.29 point in February, the Belgrade bourse said on its website. It briefly entered the negative territory in January, sinking to 92 points, following values of above 100 points in the last four months of 2023.

The index ended 2023 at 131 points.

BELEXsentiment is calculated 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.