Serbian stock indices lose ground

The blue-chip BELEX15 index of the Belgrade Stock Exchange decreased by 1.18% to 505.82 points after losing 0.50% on Friday.

The broader BELEXline dropped 0.71% to 959.94 points after a 0.36% decrease in the previous trading session.

The joint SRX index of the bourses in Belgrade and Vienna shed 1.90% in euro terms to 158.38 points after rising 0.49% on Friday.

Total turnover dropped to 19.7 million dinars ($226,500/173,200 euro) from 30.5 million dinars on Friday.

"BELEX fell as foreign markets started oscillating lately due to the unsolved fiscal cliff problem in the U.S.," Milos Bijanic, financial analyst at Belgrade-based Sinteza Invest Group, told SeeNews.

Dairy company Imlek generated Monday's largest turnover of 3.5 million dinars. The stock closed 1.21% lower at 3,112 dinars.

Construction company Energoprojekt led Monday's gainers, adding 13.33% to 1,700 dinars in a volume of 22 shares.

Insurance company Dunav Osiguranje paced the decliners, losing 4.65% to 677 dinars in a volume of 257 shares.

(1 euro= 113.7738 Serbian dinars)