Athens Stock Exchange: The sellers also submit to the 890 units

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It may have tried to recover from yesterday’s losses, finally the Athens Stock Exchange succumbs again to the pressures of sellers and portfolios that are trying to reduce their risk, now losing the levels of 890 points.

In particular, the General Index records losses of 0.58% at 889.73 points, while the turnover is at 22.7 million euros and the volume at 9.7 million units. The FTSE 25 also fell 0.50% to 2,133.88 points, while the banking index lost 1.14% to 581.05 points.

Athens Stock Exchange: The sellers also submit to the 890 units

Since the beginning of the second ten days of November, the ATHEX has managed to record only two uptrends, while only in the last days, ie since November 19, it has been found from 923 points below 890 points today. And just four meetings before the end of the month when foreigners close their 12-month strategies, the estimates are not only positive…

Of course, the general index lost the battle with the 910 points that limited the uptrend in the short term, while since it lost “effortlessly” all 899 points, now the next level of support, which is not strong enough, is 876 units. So this scenario is very likely as nothing is expected to change immediately on the pandemic front. The banker, who after the “bounce” of last week returned to his downward course, today tests the main support of 583 – 586 points.

What can change

However, what domestic analysts point out is that the bet that foreign capital will remain on Athens Avenue is not being won at the moment, given the growing uncertainty about the course of the pandemic and whether the new restraining measures that remain on the table can to halt the economic recovery. However, the phenomenon does not only concern the Greek economy but is also observed in other European countries which have returned to measures of partial restriction of traffic.

What can change in the market is to de-escalate the pandemic and the government not to take additional measures, which will affect the course of the economy in the fourth quarter. After all, the market does not forget that after the third quarter, the fourth is one of the most important in the Greek economy, given the festive season.

On the dashboard

On the board now, Terna Energy, Hellenic Petroleum, Eurobank, Ellactor and PPC are at the center of the pressures, as they record losses of more than 1%, while IPTO, Mytilineos, Lambda and OPAP are moving close to -1%.

EYDAP, Ethniki, GEK Terna, Alpha Bank, Coca Cola, Aegean, OTE, Titan and Viohalko are moving slightly downwards, with PPA, ELHA and Piraeus moving unchanged. On the other hand, Motor Oil and HELEX recorded small gains, with Sarantis at + 1.07% and Jumbo at + 1.21%.

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