March 4, 2024

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With the turnover and the severity of the correction in the stock market

With the turnover and the severity of the correction in the stock market

Last updated: 11:25

by Alexandra Tombra

The stock market in Athens is under a lot of pressure today, which is still on its corrective path, with the banking sector leading the way, as the country enters the final stage before the elections with an emotional charge high.

In particular, the general index recorded losses of 1.81% at 1094.46 units, while the turnover amounted to 26.5 million euros and the volume was 10 million pieces. The FTSE 25 index also recorded a decline of 1.90% at 2676.13 points, while the banking index lost 2.68% at 893.37 points.

The fix has arrived

The market may have posted slight gains for the 11th week, however, in fact, for the most part, it has corrected, says Elias Zacharakis of Fast Finance. The banking sector was the sector that maintained this positive sign, but the “fatigue” of the buyers was evident.

On the other hand, the market managed to maintain its short-term figures, at least in the main indices, as 1,100 units of the general index were maintained. Holding the level is sure to drive out opportunistic sellers who will rush in to take profits. As long as the level is maintained, however, according to Mr. Zacharakis, we cannot speak of an immediate continuation of the correction with the charts screaming that they need a southern breath, recalling that the rebalancing on Tuesday (28/2) with a big spin gave the baton in fresh blood And a new rearrangement.

According to him, the market definitely needs more news if it wants to sustain the big returns. There are quite a few buyers who are patiently waiting for the correction and that is also positive for the market in the medium term. On the other hand, the developments may affect the voters, which may at least affect the impulse of buyers.

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on the dashboard

On the board now, GEK Terna, Eurobank and PPC are losing more than 3%, while shares of Piraeus, Titan, Alpha bank, Hellenic Petroleum, Lambda, Mytileneos, Aegean and Autohellas are down more than 2%.

More than 1% is the decline in Ethniki, Motor Oil, Biohalco, Ellaktor, ELHA, Terna Energy, OTE and OPAP, with Jumbo, Quest, EYDAP, Sarantis and PPA posting slight losses. Coca-Cola stock rose 0.12%.