Nervousness and mild pressures in the Stock Market

The Athens stock exchange is showing intense nervousness today, which is trying to evaluate the latest results of the banks, while at the same time it is called upon to manage the movements of securing the profits of the previous days.

In particular, the General Index recorded losses of 0.24% at 867.76 points, while the turnover is at 7.5 million euros and the volume at 6 million pieces. The FTSE 25 also registered a fall of 0.29%, at 2,102.22 points, while the banking index lost 0.01% at 564.54 points.

For the second consecutive session, the ASE is trying to defend itself against profit-taking moves, again having selected securities on its side, against the lead of sellers. It’s a picture that was more or less expected, as after the positive run of the last interval the gains in most securities are attractive to be held.

Of course, what has changed today in the market is the “success” of the general index in yesterday’s auctions to break through the 200-day moving average, at 866 – 867 units, significantly improving its prospects. If it actually manages to hold the level, then the path to the next resistance level at 880 points is open, with the market having significantly improved portfolio confidence.

However, in the coming days, international developments may monopolize the interest of domestic investors, as interest gradually decreases due to summer seasonality. The “big ones” will come after August 20, according to domestic analysts, when large portfolios will slowly return, reassessing the developments, which will affect markets internationally. After these dates, there will be a better picture of the intentions of the central banks, which in recent months affect the mood in the markets worldwide.

Dashboard

On the board now, Coca Cola and EYDAP are down 1.10% and 1.74% respectively, with Motor Oil, ELHA, ADMIE, Mytilineos, Lambda, OPAP, Aegean, Alpha Bank, Titan, Eurobank, OTE and Biohalco to follow with a gentle fall.

On the other hand, Piraeus gains 2.23%, with Sarantis, Quest, PPC, PPA, Jumbo, Ethniki and Ellaktor recording a small increase. GEK Terna, Terna Energy and Hellenic Petroleum are unchanged.