Banking boost finds the Stock Market

of Alexandra Tombra

Today, the Athens stock exchange finds significant supports in the banking sector and in Coca Cola, which maintains its profits and remains above 830 units.

In particular, the General Index registers gains of 0.63% at 834.51 units, while the turnover is at 13.5 million euros and the volume at 8.3 million pieces. An increase of 0.83% was recorded by the FTSE 25, at 2,006.80 points, while the banking index gained 2.61% at 507.44 points.

Although the movements of the AX are sluggish, with the general index losing 6.69% of its value since the beginning of the year, Il. Zacharakis of Fast Finance, reminds that if one observes the foreign indices one will see that the DAX is losing 17.5% of its value, FTSEMIB 23%, Nasdaq 26% and S&P 18%. Thus, we observe that the Greek stock market is moving more defensively in the current phase, waiting for the developments.

Technically, on the daily chart the medium-term uptrend after the pandemic correction is maintained while on the weekly DG has found support at the 200-week moving average. The 850 zone is the present and main resistance which certainly without the bank is difficult to test, let alone break. On the weekly chart we see that the oscillators have decongested and are getting ready to give a bullish trigger as well.

Of course, the ASE today has another reason for caution, as like all the markets of the world it is waiting for the Federal Reserve’s decision on interest rates. Thus, the current low turnover reflects the waiting attitude of many portfolios, in view of the crucial decision.

On the dashboard

On the board now, Alpha bank stands out with the +4.15% it registers, with Coca Cola, Ethniki and Piraeus following with more than 2% gains. At +1.51% is Eurobank, while ELHA, PPA, OTE and Hellenic Petroleum are moving slightly upwards.

On the other hand, more than 1% is the fall in Ellactor and Mytilene, with GEK Terna, PPC, Motor Oil, EYDAP, ADMIE, Saranti, Terna Energy, Aegean and OPAP following with small losses. Without change are Quest, Biohalco, Jumbo, Lambda and Titan.