Today was a session of stabilization of levels, but also of adjustment of positions on the Athens Stock Exchange, which, although it tried to move higher, the sellers again stopped trying to reverse the negative trend.
In particular, the General Index closed with a marginal increase of 0.09% to 823.92 points, while today it moved between 829.87 points (+ 0.81%) and 818.86 points (-0.52%). The turnover amounted to 47.98 million euros and the volume to 15.57 million units, while 853.33 thousand units were traded through pre-agreed transactions.
The high capitalization index closed with an increase of 0.32%, at 1,984.14 points, while at -0.38% Mid Cap completed the transactions at 1,300.51 points. The banking index closed with an increase of 0.36% to 517.91 points.
It is a given that the market has been tired without any substantial direction in the last sessions, waiting for a new signal to move. The turnover was still very low today, with the certified analyst, Petros Steriotis pointing out that the lowest trading volumes in a downward trend on the ATHEX are not necessarily bad, in terms of a generalized sell-off with dynamic sales orders and lack “willing” buyers would further overwhelm valuations.
Although domestic analysts expected a better week, as the first half of the year is coming to an end, the ATHEX can not overcome the nervousness of the levels, as the downward trend is predominant. And it will remain dominant as long as the General Index remains at these levels and in any case below 850 points. The General Index seems to be looking with interest at the chart support at 813 and 788 points (quarterly lows) and while the resistances are at 845 (yesterday high) and 862 (downward “gap” in June).
This sideways move in a range that does not exceed 850 points nor slides below the lows of last March is expected to be maintained according to most analysts, as at the level of political decisions nothing has changed that will change the outlook, both growth and inflation.
After all, even the new planned tool of the European Central Bank against fragmentation is expected to be presented in all its details at the end of July, ie in about a month. And this month the stock market is too big to sustain a possible market recovery.
On the dashboard
On the board now, Mytilineos and Lambda closed with gains of 2.86% and 2.68% respectively, with OPAP, Alpha Bank, Viohalko and Ethniki following with an increase of more than 1%. Piraeus, ELHA, Coca Cola, Quest and Ellactor recorded mild gains.
On the other hand, EYDAP lost 3.49% with Terna Energy, Motor Oil, Eurobank and IPTO following with a drop of more than 1%. PPC, Aegean, Titan, GEK Terna and Hellenic Petroleum closed slightly lower, with OTE, PPA, Saranti and Jumbo unchanged.
Stock market: Balance just above 820 points
Today was a session of stabilization of levels, but also of adjustment of positions on the Athens Stock Exchange, which, although it tried to move higher, the sellers again stopped trying to reverse the negative trend.
In particular, the General Index closed with a marginal increase of 0.09% to 823.92 points, while today it moved between 829.87 points (+ 0.81%) and 818.86 points (-0.52%). The turnover amounted to 47.98 million euros and the volume to 15.57 million units, while 853.33 thousand units were traded through pre-agreed transactions.
The high capitalization index closed with an increase of 0.32%, at 1,984.14 points, while at -0.38% Mid Cap completed the transactions at 1,300.51 points. The banking index closed with an increase of 0.36% to 517.91 points.
It is a given that the market has been tired without any substantial direction in the last sessions, waiting for a new signal to move. The turnover was still very low today, with the certified analyst, Petros Steriotis pointing out that the lowest trading volumes in a downward trend on the ATHEX are not necessarily bad, in terms of a generalized sell-off with dynamic sales orders and lack “willing” buyers would further overwhelm valuations.
Although domestic analysts expected a better week, as the first half of the year is coming to an end, the ATHEX can not overcome the nervousness of the levels, as the downward trend is predominant. And it will remain dominant as long as the General Index remains at these levels and in any case below 850 points. The General Index seems to be looking with interest at the chart support at 813 and 788 points (quarterly lows) and while the resistances are at 845 (yesterday high) and 862 (downward “gap” in June).
This sideways move in a range that does not exceed 850 points nor slides below the lows of last March is expected to be maintained according to most analysts, as at the level of political decisions nothing has changed that will change the outlook, both growth and inflation.
After all, even the new planned tool of the European Central Bank against fragmentation is expected to be presented in all its details at the end of July, ie in about a month. And this month the stock market is too big to sustain a possible market recovery.
On the dashboard
On the board now, Mytilineos and Lambda closed with gains of 2.86% and 2.68% respectively, with OPAP, Alpha Bank, Viohalko and Ethniki following with an increase of more than 1%. Piraeus, ELHA, Coca Cola, Quest and Ellactor recorded mild gains.
On the other hand, EYDAP lost 3.49% with Terna Energy, Motor Oil, Eurobank and IPTO following with a drop of more than 1%. PPC, Aegean, Titan, GEK Terna and Hellenic Petroleum closed slightly lower, with OTE, PPA, Saranti and Jumbo unchanged.
Source: Capital
I am Sophia william, author of World Stock Market. I have a degree in journalism from the University of Missouri and I have worked as a reporter for several news websites. I have a passion for writing and informing people about the latest news and events happening in the world. I strive to be accurate and unbiased in my reporting, and I hope to provide readers with valuable information that they can use to make informed decisions.
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