The Athens Stock Exchange faced another fall despite a strong start that lifted the overall index to 879 points and +1.3% as low turnover and pressure on banks and blue chips prevented the domestic market from following the rebound of most European stock markets , where sentiment improved slightly after the sell-off.

Contrary to what we have become accustomed to lately, the ASE, where it has shown resilience and protection against international pressure, went down its own path yesterday, which “risks” sending earnings for August, which ends today, into negative territory. As Depolas Investment Services warns, “the uptrend in the markets in recent weeks is being tested and requires caution, and volatility is expected to rise.”

Thus, in relation to the statistics of yesterday’s meeting, the General Index recorded a fall of 1.45% and closed at around 855.70 units, and the turnover amounted to 53.24 million euros. According to Merit Securities, support points are located at 849 and 841 units, and resistance points are located at 899 and 950 units.

The large-cap index fell 1.56% to 2060.53 points, while the mid-cap index fell 0.39% to 1358.05 points.

The banking index again showed the worst results, falling by 1.67% to 553.01 points, while Alfa Bank lost 3.73%, Piraeus – 1.63%, Eurobank – 1.25%, and the National Bank closed with losses 0.59%.

In non-banking blue chips, Sarantis posted the biggest losses at -5.54%, followed by Titan, Biohalco, GEK TERNA, PPC, Motor Oil, OPAP and TERNA Energy, with losses of more than 2%. Only Coca-Cola (+1%), PPA (+0.53%) and EYDAP (+0.13%) closed in positive territory.

The general index recorded a loss of 1.45% and closed at 855.70 points.

Flows forming the sign of the General Index are now negative, and the scenario of over 900 points is retroactive after the end of the upward cycle of intervention interest rate hikes by central banks, said Dimitris Tsanas, investment director at Kyklos Khmeratistiraki. “”.

Thus, he adds, the excellent results of ELPE, Motor Oil and OPAP’s six-month results, as well as the results that follow in the near future, will guide their investment decisions based on the already recorded high dividend yield.

While Greece’s GDP is estimated to reach 5.7% (UBS) or higher this year, the political scene is shaking the market waters, as are ongoing geopolitical tensions.

With this data, buyers will have to struggle a lot in the coming days to maintain support for the overall index, Mr. Tzanas points out.

In addition, the international environment remains difficult. The Ukrainian crisis has triggered a global energy crisis and the risk of food shortages with inflation skyrocketing. Expectations of an early overcoming of the inflationary threat did not materialize, and central banks lost precious time by refusing to immediately take anti-inflationary measures. After all, they knew that high interest rates would not solve the problems associated with the supply of oil and natural gas, but would reduce new loans and increase interest on old ones. The result of tight monetary policy is likely to be a recession in the global economy.