of Alexandra Tombra
The efforts to break the resistance of 800-805 points from the Athens stock exchange today are undiminished, it seems to receive a strong impetus from selected stocks that outperform and lead the rise.
In particular, the General Index records gains of 1.47% at 798.95 points, while the turnover is at 56.07 million euros and the volume at 28.4 million units. The FTSE 25 also rose 1.83% to 1,918.33 points, while the banking index gained 3.91% to 529.88 points.
Although the market made a “belly” in its attempt to break the resistance of 800-805 points, the overperformance mainly of the banking index, which broke its own resistance at 530 points, gave a new impetus. Of course, this does not mean that the support from other sectors is negligible, with the market now exploring its resilience to the limits of resistance.
And the decisive breakout may not have come yet, but the feeling most most domestic analysts get is that sooner or later the overall index will make the uptrend.
The concentration of forces around the levels shows that once the internal correction of the securities is completed, the liquidity that has been secured will re-enter the board and that will make a difference.
Also, it should not be overlooked that after the explosive recovery of the last month and a half, both profits and estimates for the margins of growth act as a deterrent for many portfolios to take further risk.
A very relevant risk, of course, especially for those who have been operating for more than seven months and now see the market as part of a larger picture, in which the European helping hand is evident in the critical sectors of the economy.
So the stakes these days are that the market will close the year. Will he prefer to assimilate the levels or further close the gap of the fall of 2020? So far, the General Index is 14% below the levels that began the year, while the banking deficit exceeds 42%.
With 10 meetings, including today, until the end of the year, most likely, in order to close the gap, strong upward forces will have to be activated, which will even last.
On the board now, Ellactor and Alpha Bank are gaining 5.51% and 5.27% respectively, with NBG at + 3.50% and Eurobank at + 3.53%. Over 2% is the increase in IPTO, Coca Cola, Jumbo, Terna Energy and Sarantis and over 1% in Fourli, Aegean, OPAP, HELEX and Hellenic Petroleum.
PPC, Motor Oil, GEK Terna, Viochalko, OTE and Piraeus are moving slightly upwards, while Mytilineos, Lambda, PPA and Titan are moving slightly downwards. EYDAP loses 1%.