The stock market continued to accumulate in a narrow range

Another stop, the fourth in a row, saw the Athens Stock Exchange at 870 points, with sellers taking the lead in the second half of the session, fixing the General Index in the zone of 860 points.

In particular, the General Index closed with a fall of 0.12% to 866.73 points, while today it moved between 871.07 points (+ 0.38%) and 864.61 points (-0.37%). The turnover amounted to 85.37 million euros and the volume to 30.59 thousand units, while 2.62 million units were traded through pre-agreed transactions.

The index of high capitalization closed with a fall of 0.13%, at 2,081.22 points, while at + 0.62% Mid Cap completed the transactions at 1,414.06 points. The banking index closed with losses of 0.23% at 565.33 points.

The General Index completed eight accumulation sessions today, which will not have a happy ending if it does not secure the level of 870 points, which will pave the way for the test of the first big gap in the zone of 890 points. On the other hand, securing 861 units in closing, can give a boost to sellers.

According to Fast Finance, the oscillator has not yet given an upward signal, except that its aggressive trend has stopped. Everything shows that we will have a better picture after the completion of the MSCI changes at the end of the month, since that is where the rebalancing of the index will end.

Clearly, developments on the Russia-Ukraine conflict play an important role in Athens’s investment sentiment, but what is missing is the investment mood of foreigners, who see international markets entering a bearish channel leading to a bear. market. For better or worse, the priority of foreigners is not the Greek market, but where their positions are larger and require liquidity maintenance for the supports.

In the meantime, no one knows what effect the change in the policy of the European Central Bank may have on Greek assets, with caution being maintained. Based on the outlook for inflation, the ECB is preparing to start raising interest rates in July. Its first move is to raise the deposit rate from -0.5% to + 1.5% by the end of next year, which is a higher level than what is priced in the markets, according to analysts.

On the board

On the board now, -3.34% of Coca Cola, -2.32% of Terna Energy and the over 1% drop of Piraeus and Aegean put pressure on the general index. Titan, Alpha Bank, Motor Oil, Eurobank, Quest, Ellactor and OTE also moved slightly down.

On the other hand, Jumbo gained 3.75%, ELHA strengthened by 2.34% and Sarantis, Ethniki and Viohalko followed with gains of more than 1%. PPA, Hellenic Petroleum, EYDAP, Lambda, Mytilineos and OPAP closed slightly higher. IPTO, GEK Terna and PPC closed unchanged.