Dunav closed 3.90% lower at 1,010 dinars in a volume of 756 shares.
At the same time, oil and gas company NIS [BEL:NIIS] led the blue-chip gainers, closing 0.37% higher at 819 dinars.
Industrial gases maker Messer Tehnogas [BEL:TGAS] generated the day's largest turnover. A total of 308 Messer shares changed hands in a turnover of 7.2 million dinars. Messer closed 0.09% higher at 23,252 dinars.
The broader BELEXline, a free-float market capitalisation weighted index also fell, closing 0.41% lower at 2,082.75 points.
Total turnover on the Belgrade bourse fell to 13.8 million dinars ($128,600/117,600 euro) on Wednesday from 36.3 million dinars on Tuesday. Trading in Treasury bonds accounted for 1.5 million dinars of Wednesday's turnover.
(1 euro = 117.219 dinars)