Without support the dive over 6% in the Stock Exchange

The Athens Stock Exchange lost more than 60 points today, in a sell off triggered by the Russian invasion of Ukraine and hit all markets worldwide, similar to which Athens Avenue has been experiencing since the end of February 2020, when the Covid 19 was sweeping the world like a pandemic.

In particular, the general index closed with losses of 6.42% at 888.31 points, while today it moved between 882.77 points (-7%) and 940.11 points (-0.96%). The turnover amounted to 163.1 million euros and the volume to 67.8 million units, while 0.3 million units were traded through pre-agreed transactions.

The index of high capitalization closed with a fall of 6.63%, at 2,165.12 points, while at -6.37% the Mid Cap completed the transactions at 1,484.91 points. The banking index closed with losses of 8.88% at 659.20 points.

Dive without supports…

Not only did he lose the support of 930 units in the blink of an eye, but he also lost 900 units in two hours. And the tragic report of the general index did not stop there, after losing after 15:00 and the 200-day moving average, ie 893 points, to finally stop at the next support of 880 points and its technical image is extremely negative.

This is the second time that the international developments put a stop to the rise of the Greek stock market, which, although it finally tried to differentiate itself, the international developments were “superior” to its forces. Thus, just a few sessions after the flirtation of 970 points on February 11, the general index is in the range of the large accumulation of 2021, which may have created strong support, but the high geopolitical uncertainty does not help investment confidence.

What is now being pointed out by domestic analysts is that the effects on energy and commodities will affect both the Greek listed companies and the economic recovery. If these pressures, due to supply disruptions, gradually move to the consumer price index, then special measures will have to be taken by both the government and the European Central Bank. And this scenario can only negatively affect Greek development.

Of course, it is not ruled out that there may be another scenario, that of waiting from the central banks, which will be supportive for the markets, and for the ATHEX, but mainly for the economies. The question, however, is how to offset inflationary pressures in a low-growth environment.

Dashboard

On the board now, Sarantis with -12.82% and Eurobank, Piraeus and Viohalco with losses of more than 10% were the ones that received the greatest pressure on the ATHEX. Over 8% was the fall of Aegean, Coca Cola and Lambda, while over 7% in ELHA, Alpha Bank and National.

The losses in Titan, PPC and Ellactor exceeded 6%, those in Mytilineo, IPTO, OPAP, Motor Oil and Jumbo 5% and those in GEK Terna, Hellenic Petroleum and EYDAP 4%. The fall in Quest and PPA exceeded 3%, Terna Energy fell by 2.03% and OTE by 1.27%.