The stock market ‘plays’ defense to the sellers

The Athens Stock Exchange, which was under a lot of pressure earlier, is currently trying to hold on to the 880-point zone, but is now managing to absorb the losses and control the fall to reasonable levels.

In particular, the General Index records losses of 0.44% at 884.01 points, while the turnover is at 26.2 million euros and the volume at 8.4 million units. The FTSE 25 is down 0.41% at 2,123.20 points, while the banking index is down 0.48% at 565.50 points.

No matter how hard the market tried to recover the 900 units, it only managed to show the lack of portfolios that can take the risk for a better closing year. Thus, the folding to lower levels was done with concise procedures, even testing the endurance of many longs who believed in a Christmas rally to the highs of the year.

Of course, this weakness is not linked, by domestic analysts, only to the course of the pandemic, which seems to hold the economies captive for another winter, but also to the fact that this year many funds were “raised” from a market that is weak anyway, like the Greek. Capital increases and bond issues can not be ignored when the review of the year has begun to be written, and also can not be ignored when talking about valuations on the board of Athens Avenue.

Thus, after the lost expectations of 2021, most portfolios are turning their eyes to the new year, looking for opportunities based on both the results of the 9 months and the resilience of listed companies in the difficult environment that will be created by the gradual tightening of monetary policy. As in fact, Dim. Trigger of Beta Securities, clearly the companies with strong balance sheets that exceeded the profits of the 9 months of 2019 have the first reason to be placed in the portfolios of investors, providing greater security. However, laggards (ie companies that are lagging behind), mainly due to the downturn in the economy and not for special reasons, may need to be in the magnifying glass of each investor, as the disadvantage may become an advantage in the near future!

On the board

On the board now, Lambda and Jumbo record losses of 2.43% and 2.12% respectively, while over 1% is the fall in PPC, Aegean, PPA, Viohalko, Piraeus and Ellactor. Eurobank, Titan, ELHA, GEK Terna, OPAP, HELEX, Motor Oil, Alpha Bank, EYDAP and IPTO are slightly down.

On the other hand, Coca Cola and Hellenic Petroleum recorded gains of 1.26% and 1.02% respectively, with Sarantis, Terna Energy, Ethniki, Mytilineos and OTE following with a small increase.