The Stock Exchange jumped 2% again to 960 points

The “erasure” of the January correction on the Athens Stock Exchange is now complete, which with today’s jump was again at the seven-year high, ie in the zone of 960 points, with the banking sector even giving the signal that 2022 has started with the best of the conditions.

In particular, the General Index closed with gains of 1.94% at 960.32 points, while today it moved between 950.30 points (+ 0.87%) and 960.74 points (+ 1.98%). The turnover amounted to 125.8 million euros and the volume to 56.2 million units, while 3.3 million units were traded through pre-agreed transactions (mainly to Eurobank, Ethniki and Piraeus).

The high capitalization index closed with gains of 2.09%, at 2,346.53 points, while at + 0.66% Mid Cap completed the transactions at 1,567.97 points. The banking index closed with gains of 3.56% at 730.12 points.

The “value” of banks

It is clear that in Athens Avenue the picture has changed with the banking sector covering significantly of the ground from which it lags behind in relation to the General Index. The first is at a two-year high and the second at a seven-year high, as support from the energy and construction sectors gave the impetus needed by the General Index to close the gap from the 2014 highs.

However, no one forgets that in the seven-year horizon, the banking sector was affected by the recapitalizations of 2016, when the downward trend started from 1,000 points. And according to El. Zacharakis of Fast Finance, now the industry is experiencing the downward trend from 2016, a level that needs a lot of attention and that we should not just see it with one meeting.

So what remains to be seen in the industry is to restore investor confidence, which has been tested many times in the past. After all, it is more than obvious that the whole industry is recapitalized, while the reduction of “red loans” is now in the final stretch towards normalcy. Deposits have been found at 2009 levels, while credit expansion has begun and is finding pace.

Thus, the rise of the banking index above the level of 700 points seems to have given new “air” to a market that needed the necessary impetus to continue its upward trend. The level of 700 points of the banking index was decisive, while after the multi-day siege, it broke with determination in yesterday’s meeting, confirming that the sector is still holding the reins of the market.

On the board

On the board now, Piraeus recorded a jump of 9.93%, with Eurobank and Motor Oil following with 3.55% and 3.35% respectively. Alpha Bank, Coca Cola and Aegean closed above + 2%, while Jumbo, OPAP, Lambda, GEK Terna, Ethniki and EYDAP closed above + 1%.

Hellenic Petroleum, Terna Energy, ELHA, PPC, Sarantis, Titan, PPA, OTE, Viohalko and Quest closed slightly higher, while on the other hand, IPTO lost 0.40% and Ellaktoras 1.03%.