Rise without turnover in the Stock Exchange

Profits, without much risk, were recorded today by the Athens Stock Exchange, which neither managed to improve its technical image, nor managed to raise its trading activity to create large positions at the levels.

In particular, the General Index closed with an increase of 0.42% to 863.41 points, while today it moved between 869.96 points (+ 1.18%) and 857.46 points (-0.27%). The turnover amounted to 67.88 million euros and the volume to 26.65 thousand units, while 420 thousand units were traded through pre-agreed transactions.

The index of high capitalization closed with an increase of 0.61%, at 2,078.89 points, while at -0.07% Mid Cap completed the transactions at 1,398.47 points. The banking index closed with gains of 2.49% at 574.77 points.

The sideways movement between the 850 and 870 points lasted for another day, with the market even dropping trading rates just a few days before the peak of rebalancing in view of the changes in the MSCI indices. The fluctuation remains at the close between 846 and 866 units, with buyers reacting to the falls, but being exhausted on the rises.

Of course, today the banking sector presented a slightly better picture than what we are used to since April 26, making four upward outbursts. And as a stock market source in Capital.gr comments, it is not possible to display this picture just because the estimates for problem loans have deteriorated slightly. After all, as the European Central Bank moves towards the gradual tightening of its policy, interest rate margins will improve, while enhancing profitability. The industry, however, seems to be awake after the “visit” of 540 units, a move that may be tested in the coming days, as rebalancing will peak in view of the changes in MSCI.

It is worth noting here that the current restructuring of portfolios in view of the inclusion of Ethniki and Mytilineos in the MSCI Standard have received great attention from domestic portfolios, as they are expected to support inflows into Greek securities, in a difficult period. If indeed the two Greek securities, with the small but significant increase in the weight of the Greek index in the MSCI weights, support the inflows, it will be an important message in favor of the Greek market, which has been waiting for over ten years to restore the ” name “in foreign investment circles.

The FTSE 25 will have to recover the 2,106 points in order to reverse the negative scenario. However, with today’s positive meeting, if it is maintained until the end, it is expected to give the signal of the change of course. If this is again accompanied by the split of 870 units, then the market will significantly improve its technical image. In any case, on Tuesday we have the completion of the rebalancing, in order to clear the landscape.

On the board

On the board now, Viohalco closed with gains of 4.28%, with Alpha Bank, Mytilineos and Ethniki following with an increase of more than 3% and ELHA, Piraeus and Lambda with an increase of more than 2%. Eurobank, Aegean, IPTO and Ellactor recorded modest gains.

On the other hand, PPA closed with losses of 2.29%, with PPC and Motor Oil losing 1.35% and 1.24% respectively. Terna Energeiaki, OTE, Hellenic Petroleum, EYDAP, Titan, GEK Terna, Jumbo, OPAP, Coca Cola, Sarantis and Quest closed slightly lower.