Cautiously with the .. right in 2022 the ATHEX

The rise of the Athens Stock Exchange in the first session of the year was sensible, leaving the first positive imprint of the new twelve months, but without showing that there are the moods for higher levels if the landscape with the pandemic in the country is not clarified first.

In particular, the general index closed with gains of 0.62% at 898.84 points, while today it moved between 895.19 points and 900.66 points. The turnover amounted to 25.13 million euros and the volume to 16.64 million units, while 1.03 million units were traded through pre-agreed transactions.

The high capitalization index closed with an increase of 0.56%, at 2,160.88 points, while at + 0.91% the Mid Cap completed the transactions at 1,505.49 points. The banking index closed with gains of 0.33% at 576.84 points.

Positive but …

Although he visited the psychological threshold of 900 points, the general index did not attempt higher levels, despite the fact that he had several titles in positive territory. And this behavior was attributed by domestic analysts to the wait that the market chose to meet in view of a week that will judge a lot whether the country needs additional measures to reduce the pandemic.

The festive season, which was mediated by last week’s negative records, is likely to bring a new increase in cases, with the big question in the market being whether this will lead to new measures to limit economic activity. In the negative scenario a pullback should be taken for granted, while in the positive scenario we will again see the highs of the last month in the market. The debate that is developing has to do with conducting more tests, due to the greater transmissibility of the new mutation…

Until the picture is clear, which is expected by the end of the week, the most likely scenario is to extend the sideways movement between 885 – 900 units. The level of 905 points, which is the make or break level, will remain, especially in a weekly chart, while on the contrary, the break of the near support of 886 points can lead again to the zone of 865-870 points.

Although the market in 2021 failed to capture optimism for both the economy and the majority of its listed companies, as the general index accumulated for 43 full weeks between 830-930 points, however the expectations for the new year only they are positive. And as Elias Zacharakis of Fast Finance points out, the only sure thing is that after large accumulations, there is a lot of traffic, something that will need confirmation from a certification of one of the two levels.

Let us not forget that in 2021 it managed to raise close to 8 billion euros in capital increases and new bond loans that on the one hand dried up the market while on the other hand the funds entered the market increasing the number of employees and capitalizations. It remains to be seen whether the stock market can follow the real economy that all indicate that it will run at significantly high growth rates in 2022.

On the board

On the board now, Ellactor closed with gains of 3.08%, with Aegean and IPTO following with + 2.39% and + 2.28% respectively. The increase in OTE, OPAP, Eurobank, Jumbo, PPA, Lambda, Titan, Hellenic Petroleum, ELHA and GEK Terna was over 1%.

Motor Oil, Piraeus, Viohalko, Mytilineos and Quest closed slightly higher, with Alpha Bank closing unchanged. On the other hand, small losses for Coca Cola and EYDAP, but more than 1% for PPC, Ethniki, Terna Energy and Sarantis.