Belgrade Indices End Down in Falling Turnover

“The indices fell again today and the fact that they partly rose in the previous two sessions was pure luck,” a local broker told SeeNews.

The blue-chip BELEX15 index lost 0.98% to 550.70 points on Friday after rising 1.52% a day earlier. Its weekly drop was 2.10%. The index has lost some 76% since the beginning of the year due to increased risk aversion among investors fuelled by the global financial crisis.

The composite BELEXline index fell 0.51% to 1,208.76 points, recording a weekly drop of 2.06%. The joint SRX index of the bourses in Belgrade and Vienna was down 0.44% to 256.59.

Total BELEX turnover dropped to some 144 million dinars ($2.1 million/1.6 million euro) from 194 million dinars on Thursday. Total weekly turnover was down 29.40%.

On Friday, blue chip Metals Banka lost 2.30% to 3,816 dinars in 63 million dinars of turnover, the highest for the day. Construction firm Napred closed flat at 3,000 dinars in nearly 15 million dinars of turnover, the second highest away from block trading.

A block transaction in construction company Jugofund generated 22 million dinars of turnover as 27,731 shares changed hands at 800 dinars each.

(1 euro = 89.3071 dinars)