The stock market is looking for defenses to dive

Without a brake is the fall recorded by the Athens Stock Exchange in the shadow of the Russian-Ukrainian crisis, as the supports it had so hard to build throughout 2021 “fell” on the paper towers under the weight of the geopolitical sell off.

In particular, the General Index records losses of 3.67% at 823.23 points, while the turnover is at 32.6 million euros and the volume at 13.7 million units. The FTSE 25 also recorded a drop of 4.09%, to 1,971.17 points, while the banking index lost 5.95% to 549.46 points.

Every day seems to dawn a different day for the market, which although it shows some resistance to the milestones from 950 points (20/2) to 820 points today, eventually the supports break with characteristic ease. And within ten sessions, she was now seen to see the levels of 800 points, which she had left behind even in the great accumulation of 2021.

What the market is now “paying for”, according to stock market sources, is its inability to enter the “big salons” of mature markets, even at a time when the international climate was conducive to a change of pace. Thus passed a 2021 in a lateral motion, which just broke, in early 2022, the exogenous catalysts were so powerful that they did not allow long-term differentiation.

Now those who have long been trapped in the big fall of the ten-day period are looking to stop the losses, as the geopolitical landscape remains particularly dangerous, a scenario that did not have many chances a few days ago, as the multi-day war between Russia and Ukraine was not much expected. Also, the world of markets has not yet seen the full extent of Western sanctions against Russia and how they can affect global growth, which in any case fuels buyer skepticism.

On the board

On the board now, Eurobank records losses of 6.82%, with Ethniki, Alpha Bank and Piraeus following with a fall of more than 5% and PPC, OTE, Titan, Aegean and Viohalko with losses of more than 4%. The drop in ELHA, Jumbo, OPAP, Mytilineos, GEK Terna and Lambda exceeds 3%.

Hellenic Petroleum, PPA, Motor Oil, Coca Cola and IPTO are moving above -2%, with Ellactor losing 1.97%. Quest, EYDAP and Terna Energeiaki closed slightly lower, with Sarantis gaining, on the other hand, 2.90%.