The stock market closed in May with a turnover explosion due to MSCI and uncertainty

of Alexandra Tombra

Looking at inflation, central banks, the war in Ukraine and … MSCI, May ended for the Athens Stock Exchange, negative by 3.3%, but with an improved picture compared to the lows it saw during the month.

In particular, the general index closed today with a fall 0.12% at 890.70 units, while today it moved between 894.74 points (+ 0.33%) and 886.25 points (-0.62%). The turnover rose to EUR 523.20 million and the volume at 138.91 thousand units, while 3.66 million units were traded through pre-agreed transactions.

The high capitalization index closed with a marginal increase 0.02%at 2,156.90 unitswhile in -0.38% Mid Cap completed trading on 1,411.03 units. The banking index closed with losses 0.82% at 611.51 units.

At month level, the general index closed with a fall 3.44%while the FTSE 25 fell by 3.56%. The banking index closed with losses 5.16%.

Turnover explosion

The focus today was clearly on the shares of Ethniki and Mytilineos, as they are the two that will be in the MSCI Standard index from tomorrow. Their turnovers reached unprecedented levels, as both together exceeded 300 million euros.

Turnovers at OTE (66 million euros), Alpha Bank (46 million euros), OPAP (31.4 million euros), Eurobank (16.3 million euros) and PPC (10.6 million euros) were also significant. euro).

Throughout the session, however, a fragile wait prevailed for most of the session, as many domestic portfolios awaited the movements of the index – truck funds, ie the funds that follow the big indexes, such as those of Morgan Stanley. Although several inputs were expected, the timing seemed to bother buyers.

However, optimists hold that a month ended with relatively controlled losses, as the level of 850 points was threatened three times, while for a week the general index was trying to cross the 870 points.

And amid the turmoil that has prevailed since the end of April, the most positive element in the chart’s analysis was the strong resistance of the support band of 850 to 840 points to the erratic liquidations of sellers. An area where if it had been declining then the situation would have taken on unpredictable proportions, hitting the level of 800 to 790 units with force.

The next day

Apart from the above, however, the next day will be judged in the market by the dividend policy of the listed companies, which according to Petros Steriotis will be a “key” in the construction of investment portfolios on Athens Avenue. Dividend distributions will enhance the investment liquidity of the codes, which has traditionally been a catalyst for the maintenance of buying psychology.

In addition, the approval of a dividend, ie the practical confirmation of the profit outlook by the corporate managements will help the investors to distinguish the “wheat field” among the number of listed companies.

According to a stock market source in Capital.gr, Greek positions are attractive, in a volatile “investment universe”, but the uncertainty about how much they can be affected by a crisis due to monetary policy, energy costs or inflation shock is great.

Thus, there are not a few who keep a wait-and-see attitude until the landscape clears up and the messages of today’s movements are decoded.

On the board

On the board now, Ethniki closed with losses of 3.20%, having traded 50 million units, while Hellenic Petroleum and Titan fell by 2.65% and 2.52% respectively. The drop in Coca Cola, Jumbo, Quest and Lambda was over 1%, while Mytilineos, Alpha Bank, Terna Energy, GEK Terna, EYDAP, ELHA and Aegean closed slightly lower.

On the other hand, Sarantis and OPAP closed with gains of 3.85% and 3.27% respectively, with OTE strengthening by 2.85%. IPTO, Piraeus, PPA, Eurobank, Ellactor and Motor Oil closed slightly higher. Viohalco and PPC closed unchanged.