Return to the ‘red’ for the Stock Exchange

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of Alexandra Tombra

The Athens Stock Exchange returned to the downtrend today, as it failed to keep the pace of Friday’s reaction, as the weight of the energy and not only the sector, was great.

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In particular, the general index closed with a fall of 0.88% to 859.38 points, while today it moved between 871.26 points (+ 0.49%) and 855.26 points (-1.36%). The turnover amounted to 85.18 million euros and the volume to 30.62 thousand units, while 2.64 million units were traded through pre-agreed transactions.

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The index of high capitalization closed with a fall of 1.01%, at 2,059.26 points, while at + 0.87% Mid Cap completed the transactions at 1,397.56 points. The banking index closed with losses of 0.98% at 555.70 points.

Although the market tried to move above 870 points in the first hours of the session, the sellers stopped for the second time. They had put on Friday, without changing the positive sign, they put today leading the general index to lower levels.

Thus, the catalyst under the “name” MSCI held a meeting, with the negative climate that has been created in recent weeks and has caused great upheaval inside and outside, to be maintained. According to El. Zacharakis of Fast Finance, inflation, the continuation of the war and rising interest rates continue to trouble the market. An end to the war could give the markets a major boost.

Volatility is the only sure thing that will continue with the interest growing since in the previous period we had in many cases a monotonous upward movement. By the end of the month and the completion of the MSCI we will see an increase in turnover with the zenith being recorded in the last session. It is logical with the changes and the new entrances to see outflows from other titles, something that we observe more intensely in PPC, he adds.

Until then, the next milestone against sellers is 843 units and now it remains to be seen if we will have a formation that will significantly lower our targets on all shares or the market will move again with V. In FTSE 25 the close support is at 2,025 points, support that a possible split could give us a move to 1,967 points. In banking the 530-540 zone is industry support.

On the board

On the board now, PPC, OTE and Hellenic Petroleum recorded losses of more than 3% and Piraeus and Motor Oil more than 2%. Mytilineos, IPTO, GEK Terna and Alpha Bank also came under pressure, losing more than 1%, while ELHA, Ethniki, EYDAP, Eurobank, Terna Energy, Sarantis, Aegean, Jumbo and Lambda closed slightly lower.

On the other hand, Viochalco kept + 2.21% until the end, with Titan following with + 1.35%. Coca Cola, PPA, OPAP and Quest closed slightly higher, while Ellactor closed unchanged.

Source: Capital

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