Serbian stock indices rebound

The blue-chip BELEX15 index of the Belgrade Stock Exchange was up 0.44% to 508.05 points after falling 1.18% on Monday.

The broader BELEXline added 0.17% to 961.58 points after dropping 0.71% in the previous trading session.

The joint SRX index of the bourses in Belgrade and Vienna rose 0.26% in euro terms to 159.13 points after losing 1.90% on Monday.

Total turnover jumped to 126.6 million dinars ($1.5 million/1.1 million euro) from 19.7 million dinars on Monday.

Oil and gas company NIS generated Tuesday’s largest turnover of 7.6 million dinars.The stock closed 0.97% higher at 726 dinars.

"The shares of NIS rebounded after yesterday's sudden negative correction and rose by nearly one percent to 726 dinars as NIS leaders unveiled a very ambitious plan for the 2013-2015 period," Milos Bijanic, financial analyst at Belgrade-based brokerage Sinteza Invest Group, told SeeNews.

The company plans to raise its sales to around 400 billion dinars ($4.7 billion/3.5 billion euro) in 2015, nearly double the projection for the current year, it said in a presentation on Monday.

Radiator manufacturer Radijator led Tuesday's gainers, adding 20.0% to 480 dinars in a volume of only three shares.

Lender Razvojna Banka Vojvodine paced the decliners, losing 15.56% to 380 dinars as just six shares were traded.

(1 euro=113.7738 Serbian dinars)