Battles of ‘giants’ in the Stock Exchange

It may have pressed up to 930 points a little earlier, but Alpha Bank’s jump, combined with the reduction of losses in the National, has slightly improved the climate on the Athens Stock Exchange, which is not without pressure on selected stocks.

In particular, the General Index records gains of 0.07% at 938.71 points, while the turnover is at 72.6 million euros and the volume at 31.3 million units. The FTSE 25 also recorded an increase of 0.33%, to 2,288.09 points, while the banking index gained 0.91% to 699.82 points.

Intense nervousness is the image shown today by the ATHEX, which started trading positively, after 12:00 the sellers prevailed in the terminals, while from 14:30 defenses were activated mainly by the banking sector and especially Alpha Bank. Of course, the pressures, mainly on PPC and Viohalko, remain, while Eurobank monopolizes the interest of the pre-agreed transactions, with 5.32 million units worth 5.64 million euros.

The zone of 930 points in the General Index is very important, according to Ilias Zacharakis of Fast Finance, since this was the level that plagued the market for a long time, while now we have our upward trend line. The market is still moving with the fear of a significant drop and we see this positively.

According to him, the market continues in the same pattern of 2 gears. The majority of securities are flirting again with the lows of the season with the banking continuing to have the upper hand in the market. Even in the correction, the banker in relation to his move is clearly more defensive with the help of OTE and OPAP and with an EUE having zeroed in trading volume. PPC is also the first to record new low traffic, increasing volumes on the support levels in the zone of 810-820. Now it remains to be seen whether the banker will pull on the rest or the opposite will happen.

On the board

On the board now, PPC, Viohalko, Aegean and Ellactor record losses of more than 2%, while GEK Terna, Lambda, Hellenic Petroleum and ELHA move above -1%. Titan, Motor Oil, Quest, Ethniki, Terna Energeiaki, Mytilineo and Sarantis are moving slightly down.

On the other hand, Alpha Bank gains 2.67%, with Jumbo, OPAP and OTE gaining more than 1%. IPTO, Eurobank, Coca Cola and Piraeus are moving slightly upwards. The PPA and EYDAP are unchanged.