The Athens Stock Exchange closed today with significant gains, which returned to an upward trajectory after Friday’s break, but without raising high trading rates, as it did not accept its “transatlantic” orders due to a holiday.
In particular, the General Index closed with gains of 0.73% at 956.28 points, while it moved between 951.66 points (+ 0.24%) and 959.44 points (+ 1.06%). The turnover amounted to 54.3 million euros and the volume to 28.2 million units, while 2.1 million units were traded through pre-agreed transactions.
The high capitalization index closed with gains of 0.90%, at 2,312.59 points, while at + 0.76% Mid Cap completed the transactions at 1,588.27 points. The banking index closed with an increase of 1.77% to 654.41 points.
Confirmed the 950 units
The turnover may have stuck at half the average of the previous two weeks, due to the American holiday, but what was transferred to Capital.gr from the desks is that the market makes its internal corrections, without threatening on the one hand the psychological limit of 950 units and on the other hand the technical support of 930 units. According to the certified analyst Petros Steriotis, the key level for the current week will be the 949 units of GD, ie the previous seven-year high from which the Greek market fell in the midst of the first announcements about the coronavirus at the beginning of 2020.
Of course, the movements in the market were slightly cautious, as in addition to the American holiday, there was also the fact that Fitch limited itself to upgrading only the prospects of the Greek economy does not help the market return to its strongly upward trajectory. So the picture today was to maintain the positive pace, with profits being “shared” in several titles of medium capitalization, a particularly positive element for the depth of the rise.
With the look higher
According to Ilias Zacharakis of Fast Finance, day by day we see more and more companies upgrading their banking goals with the industry now heating up machines aiming at gradually higher goals. Every week that passes, the Greek market certifies that it can be the protagonist for 2022. Of course, we have not yet seen a diffusion in the good psychology, since in every upward spike new funds are added for investments, usually at the wrong timing in the short term. The point is that the market now has very strong foundations that will support any upward movement in the coming years, something that was clearly lacking in previous years.
Technically day by day we see that securities record new perennials high with many charts being high promising. Ahead of us we have the 980 and 1000+ units as targets of the DG, while the banking sector is clearly aiming at significantly higher levels after the new highs. At FTSE 25, the next near target is 2,370 points, with 2,487 points being the big one. The banking seems to have taken the reins of the market for good with 676 units being close resistance.
On the board
On the board now, Alpha Bank and Piraeus recorded gains of 3.20% and 3% respectively, with Viohalco and EYDAP following with + 2.58% and + 2.31%. Profits in OPAP, Ethniki, Aegean and ELHA were over 1%, while Mytilineos, Coca Cola, PPC, Quest, OTE, Terna Energy, Jumbo and Eurobank closed slightly higher.
On the other hand, PPA and IPTO closed at -1.70% and -1.16% respectively, with Titan, GEK Terna, Hellenic Petroleum, Sarantis, Lambda, Ellactor and Motor Oil closing with small losses.