The stock market is approaching the make or break levels

The levels of 930 points are now being tested by the Athens Stock Exchange, which again with the help of the banks, but also of selected index weights, passed with a characteristic ease the zone of 920 points, attempting to overcome the multi-month accumulation.

In particular, the General Index records gains of 1.18% at 929.21 points, while the turnover is at 49 million euros and the volume at 25.4 million units. The FTSE 25 also rose 1.36% to 2,245.04 points, while the banking index rose 2.01% to 631.71 points.

With just one downtrend so far since the beginning of the year, the ATHEX has made a very good start for 2022, despite the turmoil in international markets. In fact, this uptrend, which essentially started on December 21, since since then only three are the downside sessions, has led the ATHEX to cover a distance of more than 60 points and in any case to the maximum range of the multi-month range. accumulation.

Now, whether this upward series can continue, but with the necessary stops in the meantime, lies in the fact that there was an inflow of new funds in Athens Avenue, which also took the positions in the securities that have outperformed, such as those of banks. On this front, too, expectations are positive, in the sense, of course, that at least yesterday and today we saw a jump in turnover to twice the levels observed for most of December. It only remains to see the time horizon of these moves, especially as we approach the critical levels of 830–850 points.

The announcement for the planned evaluation of our country by Fitch Rating may work positively on Friday. It is recalled that Fitch has rated the country with “BB”, two steps away from investment. The next scheduled rating is expected on March 18 by DBRS Morningstar, which holds the “BB” rating two steps behind the investment.

On the board

On the board now, Ellactor is gaining 3.44%, with Alpha Bank, Jumbo, OTE and Piraeus following with an increase of more than 2%. More than 1% is the increase in Ethniki, OPAP, Aegean, PPC, Viohalko and IPTO.

Eurobank, Hellenic Petroleum, Sarantis, Coca Cola, Lambda, Titan, Motor Oil and ELHA are moving slightly upwards, with EYDAP and Mytilineos unchanged. On the other hand, GEK Terna, Terna Energeiaki, PPA and Quest are moving slightly downwards.