BELEX15 added only light 0.11% on a weekly basis, while BELEXline was down 1.24%. Decline at Komercijalna, was a major reason for light expansion at BELEX15. The bank lost 3.27% w/w, which seems as a reasonable correction after several weeks of advance. Ministry of Finance, confirmed, privatization tender is about to be declared at the end of May or in early June.
NIS (NIIS), was the most traded name, with RSD 15.6m in volume, while its stock price added 2.4% w/w, mainly due to Friday’s jump. It seems that buying pressure may be generated further due to remaining period for catching the dividend record date.
From the macro side, public budget surplus in two months of 2019 amounted to RSD 22.2bn, as Serbian Ministry of Finance reported. Public income was at RSD 207bn, while costs side reached RSD 184.8bn. According to 2019 projection, public budget should see RSD 22.9bn deficit, which is 0.4% of GDP. Fiscal discipline remains clearly strong.