The stock market broke the ‘ceiling’ of 2021

With the rising momentum of the new year escalating, instead of disappearing, the Athens Stock Exchange managed today to break the upper range of the multi-month accumulation, ie 931 points, and with the help of both banks and several indexes, to make the first its movement to higher levels.

In particular, the General Index closed with gains of 1.76% at 934.61 points, while today it moved between 919.85 points (+ 0.16%) and 934.82 points (+ 1.79%). The turnover amounted to 117.8 million euros and the volume to 55.3 million units, while 3.7 million units were traded through pre-agreed transactions.

The high capitalization index closed with an increase of 2.10%, at 2,261.34 points, while at + 1.20% Mid Cap completed the transactions at 1,535.66 points. The banking index closed with gains of 3.11% at 638.62 points.

The positive messages

Although the ATHEX is counting only one downtrend since the beginning of the year, its uptrend is escalating instead of declining, cultivating expectations that this time it will be able to break the accumulation it has held since last April. In fact, this upward intensity comes with the “accompaniment” of a strong turnover, ie over 30% of the daily average of the whole of 2021.

Thus, the market has managed to differentiate itself from the bad start of 2022 for the international markets, now giving its big test, which is nothing more than maintaining the 930 units. And the answer to this test is clearly sought in whether there was an inflow of new capital in Athens Avenue, which also took the positions in the securities that have outperformed, such as those of banks. So it remains to see the time horizon of these moves, especially as we approach the critical levels of 930 – 950 points.

However, the announcement for the scheduled evaluation of our country by Fitch Rating can work positively on Friday. It is recalled that Fitch has rated the country with “BB”, two steps away from investment. Also, as a stock market source comments on Capital.gr, the pandemic, despite the outbreak of the cases, begins and does not affect the market. Of course, the profits so far are selective and large without being seen in the General Index and therefore in the general investment public, but at some point it should be reflected in the overall picture of the market.

On the board

On the board now, Alpha Bank closed with gains of 4.24%, circulating more than 20 million units, with Jumbo and Ellactor following with + 3.65% and + 3.52% respectively. Over 2% was the increase in OPAP, Piraeus, PPC, Ethniki, Lambda, Hellenic Petroleum, Eurobank, OTE and Motor Oil and over 1% in Viohalko and IPTO.

Aegean, Coca Cola, Titan, Mytilineos and GEK Terna moved slightly upwards, with Sarantis unchanged. On the other hand, PPA, Terna Energy, Quest and EYDAP closed slightly lower, with ELHA closing with losses of 1.04%.