The Stock Market is testing its strength for the 800 units

LAST UPDATE: 12:10 p.m

The Athens Stock Exchange is currently finding its way to 800 units, with the low trading activity showing that the market is waiting for signals from the international markets, especially on the front of inflation data, proceeding with selective positions.

In particular, the General Index registers gains of 0.85% at 801.35 points, while the turnover is at 10.2 million euros and the volume at 5.3 million pieces. The FTSE 25 also recorded gains of 0.91%, at 1,915.88 points, while the banking index rose 0.01% at 465.03 points

The Stock Market is testing its strength for the 800 units

The eyes of the whole world today are on the data on inflation, especially in the USA, which will judge the course that will be followed by the monetary tightening of the central banks. The nervousness is evident, with the ASE unable to differentiate itself from this climate, even if it has the index-heavy OTE and Coca Cola as important supports.

The General Index is expected to make a technical attempt to find its “walk”, with buyers “hanging” on the diagrammatic support offered by the current one-plus-year low and with the daily oscillators stagnating at “oversold” levels , comments the certified analyst, Petros Steriotis. On the other hand, the electioneering, the Greek-Turkish, the precision and the risk of fragmentation of the pan-European bond markets are affecting the investment expectations in the already “sensitive” AX, he added.

Technically, 780 points is the most important zone at the moment for the General Index, which should be guarded in case there is some turbulence in the international markets. So far, there are several signs of a reaction, with the first yet confirmed signal being at 806 units. As long as the level of 788 units at the end of the month is maintained, the market has strength, however according to the technical analysts.

On the dashboard

On the board now, PPC is gaining 3.26%, with Terna Energy at +2.39% and OTE, Coca Cola, GEK Terna, Jumbo, OPAP and Quest following with an increase of over 1%. Motor Oil, Eurobank, EYDAP, ADMIE, OLP, Mytileneos and Titan are moving slightly upwards.

On the other hand, Piraeus and Lambda lose 1.52% and 1.26% respectively, while Alpha bank, Hellenic Petroleum, Aegean and Sarantis move slightly down. There is no change in Ethniki, ELHA, Viochalko and Ellactor.

Source: Capital

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