Serbian Stocks Endure Worst Day in Belgrade Bourse’s History

The blue-chip BELEX15 index sank 10.29% to 804.40 points. The broader BELEXline dropped 6.73% to 1,670.02, while the joint SRX index of the bourses in Belgrade and Vienna plunged 12.1% to 431.54 points.

Global panic was the only reason for the severe losses in Belgrade, Ognjen Kapor, a broker with Delta brokerage, told SeeNews.

“[There were] no bad business results, no bad corporate news, just the global panic,” Kapor said. “Today is the worst day in the history of the Belgrade Stock Exchange,” he added.

Kapor expects further falls on the BELEX in the next few days. “There are no indications, nothing positive in Serbia to pull the market up,” he added.

Total turnover on the BELEX rose to 81.07 million dinars ($1.4 million/1.0 million euro) on Tuesday from 72.7 million dinars the previous day.

Chemical producer Galenika Fitofarmacija was the top decliner on Tuesday, plunging 20% to 3,600 dinars. Blue-chip telecommunications company Telefonija was the biggest gainer, surging 12.45% to 2,700 dinars.

Shares of drug company Zorka Pharma were the most trade on Tuesday as they ended unchanged at of 1,350 dinars on turnover of 12.2 million dinars.

(1 euro = 79.2419 Serbian dinars)