Strong rise with increased turnover on the Stock Exchange

The Athens Stock Exchange is currently at the level of 930 points, which manages to raise its reaction rate, covering almost half of the lost ground of the previous fall.

In particular, the General Index records gains of 2.04% at 931.97 points, while the turnover is at 46.5 million euros and the volume at 18.1 million units. The FTSE 25 also recorded an increase of 2.27%, to 2,253.29 points, while the banking index gained 3.19% to 654.34 points.

The fall of the market since last Friday created as it seems attractive entry points for both new funds and the existing ones that want to improve the valuations of their positions. So today, a day when the international climate has improved significantly, the ATHEX reacts positively enough, even raising its turnover to levels that had moved to the big rise of the first two weeks of January.

Technically, the General Index should close the week above the level of 930 points, in order to cancel the scenario of the big correction. If it manages to rise above this support then it will have to face the resistance of 959 points, the breakdown of which will continue at 980 points.

In this pattern, however, the banking sector is expected to play a decisive role, not only because it has lagged behind in the recovery, as it should have been at current levels of the General Index, but also because of the prospect of tightening the monetary policy of the European Central Bank. Bank and after the Heraklion feat of clearing balance sheets, has clearly improved visibility. Technically, the sector must break through 659 units, a resistance whose breakdown can continue.

If the scenario of higher levels in the banking sector is confirmed, it will result in the release of funds that can give feedback to other securities. And the spread of upward movement is usually a sign of the health of an upward market in the long run.

On the board

On the board now, Ethniki, Piraeus and OPAP are gaining more than 4%, with PPC and Alpha Bank at + 3.67% and + 3.19% respectively. Over 2% is the increase in Viohalko, ELHA, Terna Energy, OTE, Mytilineos and Aegean.

Profits in Motor Oil, Eurobank, Sarantis, PPA, EYDAP, GEK Terna, IPTO and Lambda exceed 1%, while Jumbo, Titan and Hellenic Petroleum are moving slightly higher. Quest is unchanged, with Coca Cola losing 0.57% and Ellactor at -2%.