Stock Market: Battles around 870 units

The Athens Stock Exchange is currently fighting to maintain the levels, which despite the pressures it receives today manages to keep the zone of 870 points.

In particular, the General Index registers gains of 0.09% at 871.02 points, while the turnover is at 21.6 million euros and the volume at 12.4 million pieces. The FTSE 25 fell 0.06% to 2,108.07 points, while the banking index lost 0.70% to 562.04 points.

The market had seen levels of 870 points since the first ten days of June, when the significant decline to 778 points in early July was underway. Sure, it may have added more than 90 points from those lows, but not much water has flowed down the drain to signal a major change in market direction.

This is also the problem conveyed by the desks at Capital.gr, as no one can answer whether the reaction shown by the domestic market, as well as the international ones, is lasting, or signals a change in perspectives. The answer will probably be given from abroad, as the tuna is transferred to L. Athens, albeit filtered, due to the regional nature of the A.A.

Technically, now, the market should hold at least the levels of 866-868 points if it wants to maintain the positive short-term trend. Let’s not forget that as shallow as our market is on the downside, it is as shallow on the upside once it starts trending, but if the level holds, the path to the next resistance level at 880 is open, with the market to have significantly improved portfolio confidence.

On the dashboard

On the board now, Ellaktor, Quest, Piraeus, Coca Cola and OTE are recording gains that exceed 1%, while Terna Energy, PPA and Biohalco are moving slightly upwards. Without change are ELHA, Jumbo, Aegean, ADMIE, Mytileneos and Titan.

On the other hand, EYDAP and Ethniki recorded losses of 1.91% and 1% respectively, with Eurobank, Alpha Bank, OPAP, Sarantis, PPC, GEK Terna, Hellenic Petroleum, Motor Oil and Lambda moving slightly lower.