The Athens Stock Exchange finally came under strong pressure today, which although started the session with very positive omens, the sellers again led the General Index to the zone of 820 points, as in the last half hour they increased their orders.
In particular, the General Index closed with a fall of 1.4% to 823.18 points, while today it moved between 845.82 points (+ 1.32%) and 821.39 points (-1.61%). The turnover amounted to 41.27 million euros and the volume to 17.57 million units, while 845.70 thousand units were traded through pre-agreed transactions.
The index of high capitalization closed with a fall of 1.26%, at 1,977.89 points, while at -1.59% Mid Cap completed the transactions at 1,305.46 points. The banking index closed down 1.2% at 516.05 points.
The difficult international environment that the Greek market had to manage was not enough, in combination with the loss of a large part of the daily turnover, now the political risk has been added, as it appears in the last meetings and in the titles that have to do with political decisions. So today he may have had a few titles in positive territory, but in the end the sellers prevailed in the end removing a significant part of the recent recovery.
Thus, the reaction from the low of 814 points faded very quickly as there is no particular willingness from most of the dashboard to follow the upward correction. Banks seem to be struggling to make a second consecutive day of growth, with the result that the market image is losing momentum.
In this context, the ATHEX maintains the prevailing short-term downward trend which requires exceeding 860 points and slightly better than average daily transactions close to 50 million euros. Certainly the pre-election period that has opened, regardless of whether elections will take place or not, affects and frightens for the future, especially when the country has to face the simple proportional system.
Technically, the General Index now continues to revolve around the large support of the 800-unit zone, with the reaction in the current phase stopping at 843 units, which in case of securing will open the way for the 868 units. The FTSE 25 again failed to maintain the 2,000 points, while the banking index has support in the zone of 510 points with resistance at 544 points.
On the dashboard
On the board now, PPC and IPTO recorded losses of 4.59% and 4.40% respectively, with Piraeus and Mytilineos following with -3.89% and -3.65% respectively. Over 2% was the drop in Alpha Bank, Terna Energy and Hellenic Petroleum and over 1% in Lambda, ELHA, EYDAP, Motor Oil, GEK Terna, Biochalko and Jumbo.
Titan, Quest, PPA, Sarantis, OTE, Ellactor and Eurobank closed slightly lower, with Aegean and Coca Cola unchanged. From gains of more than 4% in the morning, Ethniki closed at + 0.03%, with OPAP following with + 0.65%.
I am Sophia william, author of World Stock Market. I have a degree in journalism from the University of Missouri and I have worked as a reporter for several news websites. I have a passion for writing and informing people about the latest news and events happening in the world. I strive to be accurate and unbiased in my reporting, and I hope to provide readers with valuable information that they can use to make informed decisions.