The Stock Market is ’tilting’ all 900 points

Led by Coca Cola, the Athens stock exchange today shows a willingness not only to remain in the zone of 890 points, but also to “look sideways” at 900 points, a level it lost in the first sessions of June.

In particular, the General Index registers gains of 0.30% at 895.88 points, while the turnover is at 4.9 million euros and the volume at 2.2 million pieces. An increase of 0.27% was recorded by the FTSE 25, at 2,167.82 points, while the banking index gained 0.57% at 592.79 points.

Since July 5, when both the general and the banking indices were at year lows, gains exceed 14% for the former and 33% for the latter. In fact, in this period, the general index has recorded only six bearish sessions, out of a total of 29 sessions, offering significant gains to short-term investors who believed that the AX position is not at year lows.

Of course, the 900 level may test this bull run as the orders of those trapped in early June, when it was lost, are activated. So far, what most analysts are pointing to is that the improvement in turnover will help the market withstand these pressures, even giving the signal that it has the purchasing power needed. And indeed, turnover looks improved today, as it did in yesterday’s session, where we had strong activity through pre-arranged trades.

In any case, however, the market should make a stop in its upward streak, assimilating the levels and creating footholds in case of international disturbances. Especially in the latter, although the AXA has shown some resistance to external turbulence, everyone agrees that it should stop “resorting” to the levels of 850 points whenever the climate worsens internationally and create stronger dykes in the zone of 900 points.

Dashboard

On the board now, Quest with +2.94%, but also Coca Cola with +1.74% and OTE with +1.31%, are the main drivers of the market’s positive sign. Alpha Bank, Eurobank, Piraeus, GEK Terna, Ethniki, Aegean and Sarantis are also moving slightly upwards.

On the other hand, Ellactor loses 1.19%, with Jumbo, Biohalco, PPC, OPAP, Titan, Hellenic Petroleum, Mytilene, PPA, ADMIE, Terna Energy, ELHA and Lambda following with a small fall. Motor Oil and EYDAP are unchanged.