The stock market continues to slide around 860 points

The Athens Stock Exchange is moving steadily below 860 points today, as it sees that the government is now facing the severity of the new wave of the pandemic, as well as internationally, which makes the restrictive measures more and more visible.

In particular, the General Index records losses of 1.53% at 858.01 points, while the turnover is at 26.5 million euros and the volume at 11.5 million units. The FTSE 25 also fell 1.62% to 2,054.56 points, while the banking index lost 2.01% to 548.56 points.

The market is now with its back to the pandemic wall, having only a small step before trying again the lows of the 8-month accumulation, ie the 830 units that were found in July. So the Omicron mutation of Covid-19 threw into the void any expectations that had been cultivated for a strong finish in November, the month that foreigners close their books. Also, today, in addition to closing the books, we have the MSCI restructurings that concern the half-yearly review. Although the change of Greek interest, that of PPC, preceded in time, it is possible to see an increase in turnover due to other changes.

As the certified analyst, Petros Steriotis, points out, the trend in the General Index is clearly negative, with the large weekly red “candlestick” incorporating falling opening gaps, high volatility in only one direction (down) and the violation of the straight line. which joins the significant lows of the current year. We point out that technical price oscillators (RSI etc) cease to be reliable in aggressive market phases, such as the current one, says Mr. Steriotis.

At the same length, however, Beta Securities, although the 855 units have some support properties, the 830 units seem more robust to give an upward reaction. Most likely, the next meetings will continue in the pattern of intense volatility as the nature of the events in the foreground will intensify the nervousness of investors.

On the dashboard

On the board now, Coca Cola and Motor Oil record losses of 3.32% and 3.05% respectively, with Alpha Bank, HELEX, Lambda, Mytilineos and Piraeus following with a fall of more than 2%. GEK Terna, Viohalko, Sarantis, Ethniki, IPTO, Terna Energy, PPC, OPAP, Aegean, Jumbo, Eurobank and Ellactor are moving above -1%.

The fall in Titan, PPA and Hellenic Petroleum is controlled below 1%, while on the other hand, ELHA, EYDAP and OTE are moving slightly down.