Banks are leading the rise of the Stock Exchange again

The Athens Stock Exchange is testing its strengths above 920 points today, which finds significant support both in the banking sector and in the recovery of PPC, in order to enter the final straight for its next resistance.

In particular, the General Index records gains of 0.77% at 924.95 points, while the turnover is at 5.1 million euros and the volume at 1.7 million units. The FTSE 25 is up 0.85% at 2,231.01 points, while the banking index is up 1.20% at 607.62 points.

Although the resistance of the general index is located at the levels of 930 – 931 points, the market seemed to have difficulty at 920 points, which coincided with the strong turmoil of the rebalancing of the PPC share. Indicative of the weight given to the market for the share was that for about a week 1/3 of the turnover was located in PPC.

The conditions are there

As domestic analysts have repeatedly stated, the ATHEX has the conditions not only for a good closing of books by foreigners, which traditionally takes place in November, but also for a good closing of the year, which will be the “stepping stone” for in 2022. Guided by the positive assessments of foreigners, the liquidations that will reasonably occur in the next ten days, could be redirected to Athens Avenue, giving fuel for a closing year close to the highs of the year.

Of course, there is another estimate that wants the market to remain in the sideways movement that follows since last April and not to raise the anchor from the zone of 900 units, until at least the landscape clears the front of the pandemic. A landscape that as winter progresses blurs more and more, as measures, not lockdown, return to many countries in order to control the 4th wave in the community. And unfortunately Greece is no different from this “landscape” with the pressures on the health system increasing and the government staff looking for ways to curb this wave.

Dashboard

In such an environment it is reasonable for the movements on the board to have the element of caution. Of course, the more than 1% profits in Ethniki, PPC, ELHA, Piraeus, OTE, Alpha Bank, GEK Terna, Ellactor and Terna Energy support the rise of the general index over 920 points.

OPAP, Aegean, Viohalko, Eurobank, PPA, Lambda, Motor Oil, Titan, Coca Cola and Jumbo are also moving slightly upwards, while Mytilineos, HELEX, Sarantis, IPTO and EYDAP are unchanged.