Impol closed 6.96% lower at 5,443 dinars as 80 shares changed hands.
Cookware maker Metalac [BEL:MTLC] was the only-blue chip gainer, adding 3.03% to 1,597 dinars.
Oil and gas company NIS [BEL:NIIS] generated the day's largest turnover as a total of 2,317 NIS shares changed hands in a turnover of 1.9 million dinars. NIS closed 1.11% lower at 802 dinars.
The broader BELEXline, a free-float market capitalisation weighted index also fell, by 0.24% to 1,948.54 points.
Total turnover on the Belgrade bourse rose to 35.2 million dinars ($323,000/300,200 euro) on Thursday from 11.9 million dinars on Wednesday. Trading in Treasury bonds accounted for 28.7 million dinars of Thursday's turnover.
1 euro = 117.159 dinars