Small losses with low turnover in the Stock Exchange

of Alexandra Tombra

With Ellactor and Ethniki finally being at the center of the liquidations, the negative signs prevailed on the Athens stock exchange, which, although it tried to move positively, finally succumbed to the pressures of the sellers.

In particular, the general index closed with a fall of 0.13% at 828.89 points, while today it moved between 833.65 points (+0.44%) and 826.36 points (-0.43%). The turnover amounted to 31.84 million euros and the volume to 13.24 million pieces, while 159.03 thousand pieces were traded through pre-agreed transactions.

The high capitalization index closed with a fall of 0.17%, at 1,989.80 units, while the Mid Cap ended trading at +0.65% and at 1,351.21 units. The banking index closed down 0.62% at 494.65 points.

The fluctuations in the market today were limited at the level of the general index, but quite significant in selected securities, such as Ethniki and Ellactor, which were also at the center of liquidations. And these headlines also determined the final picture of the market, which broke its bullish streak after five bullish sessions.

After five days of continuous rise, even against the negative international climate, the market today showed corrective tendencies, but without exaggerations. Whether we are simply seeing a bear market rally, according to Ilias Zacharakis, the market itself will tell us. What we do know is that bear market rallies are quick in time and exaggerated. So far this phenomenon has not been observed with the markets slowly and excruciatingly reacting to the entire decline.

Certainly inflation is a thorn, nevertheless the Greek economy has demand in any case both from the inside and from abroad. Everyone expects a heavy winter with the difference that when everyone expects something it doesn’t come at least to the extent expected. The future will tell us who was on the right side. The only thing that is certain is that choosing companies with good sizes and growth is difficult and in any climate money will be lost.

Although the climate abroad did not help the market to “effortlessly” continue its upward streak, it nevertheless managed to keep in touch with 830 units, the last stronghold before the next target of 840-845 units. After all, the market has a safe distance from the support of 810 units, while its medium-term target is at 860 – 885 units, a level that will require a lot of strength to recover.

On the dashboard

On the scoreboard now, Ellactor lost 5.70%, with Sarantis, PPA and Ethniki following with losses close to 3%. GEK Terna closed at -1.25%, while Jumbo, Terna Energy, ADMIE, Coca Cola, Motor Oil, ELHA, OTE, Aegean, Hellenic Petroleum and Biohalco closed slightly lower.

On the contrary, Lambda gained 3.25%, with Mytileneos, Quest, EYDAP and Piraeus following with a rise that exceeded 1%. OPAP, Titan, Alpha Bank, Eurobank and PPC closed slightly higher.