Athens Stock Exchange: Sellers take the reins

The Athens Stock Exchange is currently sliding into negative territory, with the market trying to find its footing in an environment of very low trading and very high international uncertainty.

In particular, the General Index recorded losses of 0.32% at 1,169.97 units, while the turnover is at 35.8 million euros and the volume at 10.8 million pieces. The FTSE 25 also registered a fall of 0.27%, at 2,859.46 points, while the banking index lost 0.58% at 921.52 points.

Low transactions

From the first minutes of the session, trading was very low, causing several questions including the duration of the +1.56% recorded just before 11:00. The estimates were confirmed, with the market gradually shedding its gains as buying interventions became more selective, with the international climate not helping at all.

Technically, the market has not given any signal to change its short-term course, since this requires it to break upwards through 1,210 units, or to lose the 200-day EMA, at 1,162 units. Instead, the market is headed to close the fifth consecutive session within the ranges of 1,170 – 1,206 units, regressing towards “indulgence” of the short-term.

Domestic analysts, however, are not pessimistic, given that the market has made only two gains in the last 12 weeks, having lost about 19% at the low of the move. The correction is considered sufficient for a bull market such as the current one, even if it has given several portfolios second thoughts, as both at the macro level and at the level of listed performance, no serious cause for concern emerges.

On the board

On the board now, the -2.21% of Viohalco and Lambda are exerting significant pressure, as are the more than 1% losses in Quest, Ellactor, EYDAP, GEK Terna, Cenergy and National Bank. ELHA, Autohellas, Hellenic Petroleum, OTE, Jumbo, Coca Cola, Terna Energy, Eurobank, Piraeus Bank and Titan have also moved into negative territory.

PPC, Alpha bank, OPAP, Sarantis, Mytileneos and Motor Oil are in slightly upward territory, while Aegean is maintained at +1.78%.