Stock market: Endured the positive sign, but not the reaction

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With less intensity, but with greater endurance, the Athens Stock Exchange continued its upward course for a second day, but with great difficulty absorbed the pressures that appeared in almost half of the board, especially in selected index-weighted securities.

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In particular, the General Index closed with gains of 0.12% at 892.92 points, while it moved between 890.81 points (-0.12%) and 896.53 points (+ 0.53%). The turnover amounted to 51.2 million euros and the volume to 17.6 million units, while 2.2 million units were traded through pre-agreed transactions.

The high capitalization index closed with an increase of 0.02%, at 2,146.36 points, while at + 0.69% Mid Cap completed the transactions at 1,493.14 points. The banking index closed with gains of 0.03% at 577.72 points.

The first bet, closing above 893 points, was not won today by the Stock Exchange, which could not absorb the pressure from the 58 shares with a negative sign. But if he wins it at the end of the week above this level, he has laid the right foundations to regain the levels of 900 points, for the first time since their loss on November 23.

As stock market sources comment on, if this image of the market was accompanied by better trading activity, then we would be talking about a healthy rise, which needs its necessary attitudes. However, the minefield that fuels the course of the Covid 19 pandemic does not leave much room for much optimism, as uncertainty remains high.

Window of optimism

The pattern that the market follows from the big fall of November 26 are meetings with upward outbursts, with the next ones being balanced. After all, low turnover helps some portfolios that want to target very specific titles, to do so without consuming very large funds, with the view of course remaining firmly oriented towards the end of the year.

Of course, everything can change if the vaccines prove effective, as they did in the same period of 2020. Then, and only then, as BlackRock reports, will the new Omicron mutation only delay the resumption and healing of economic activity, which means that any corrections in the markets will be significant opportunities for new placements. After all, as BlackRock typically notes, “less growth now means more growth later.”

On the board

On the board now, Sarantis stood out with the + 2.34% he scored, with Ethniki, Aegean, Viohalko, OTE, Lambda, Titan and Mytilineos following with an increase of more than 1%. Motor Oil, GEK Terna, HELEX and PPA closed slightly higher.

On the other hand, the losses in EYDAP, Jumbo and Terna Energy exceeded 1%, while Eurobank, Piraeus, OPAP, Coca Cola, Hellenic Petroleum, PPC, Ellactor and Alpha Bank closed slightly down. ELHA and IPTO closed without change.


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