Serbian Indices Close Lower, AIK Banka Boosts Turnover

“Although today's total volume is not as small as it was in the previous days, more than half of it was concentrated in a single stock, AIK Banka,” Uros Spasenovic, a broker with Belgrade Independent brokerage, told SeeNews.

The blue-chip BELEX15 index on Thursday fell 2.54% to 668.99 points after sliding 0.35% on Wednesday.

“The volumes of the other shares were very, very small, which affected their price and that is why the indices fell, although not by much,” Spasenovic said.

“What concerns me most is the small volume. Not that there weren't any buyers but that they were just not ready to pay higher prices. There are simply no big buyers who could lift the whole market,” he said, adding that investors are now mindful of the high volatility and aware there is a very good chance to buy at lower prices if they are patient.

The composite BELEXline index dropped 1.74% to 1,421.42 points, while the joint SRX index of the bourses in Belgrade and Vienna fell 4.01% to 324.29.

Total turnover on the BELEX rose to 144 million dinars ($2.2 million/1.7 million euro) from 128 million dinars on Wednesday.

AIK Banka lost 2.09% to 2,484 dinars on Thursday in 80.5 million dinars of turnover. Blue-chip soybean producer Sojaprotein Becej declined 2.65% to 917 dinars in 19.8 million dinars of turnover, the second highest for the day.

(1 euro = 84.7287 dinars)