The blue-chip BELEX15 index, which tracks the most liquid shares on the Belgrade Stock Exchange, lost 0.78% to 649.63 points after shedding 1.78% on Wednesday.
The broader BELEXline index closed lower 1.05% to 1.310.98 after ending down 1.17% in the previous trading session.
The joint SRX index of the bourses in Belgrade and Vienna shed 0.53% in euro terms to 192.60 after falling 1.09% on Wednesday.
Total turnover fell to 71.2 million dinars ($716,000/581,000 euro) from 192.1 million dinars on Wednesday.
The preferred shares of AIK Banka [BEL:AIKBPB] generated the session's largest turnover of 31.6 million dinars, closing flat at 750 dinars. The company's ordinary shares [BEL:AIKB] followed, generating 17.3 million dinars in turnover but losing 2.36% to 1,611 dinars on Thursday.
Oil and gas company NIS [BEL:NIIS] led the session's gainers, rising 2.85% to 721 dinars with 10,746 shares changing hands.
Lender Jubmes Banka [BEL:JMBN] paced the session's declines, closing 19.47% lower at 3,301 dinars in a volume of eight shares.
(1 euro=122.5366 Serbian dinars)