Although the session started timidly, with several large and mid-cap stocks under pressure, the Athens Stock Exchange finally followed the trend of the last interval, overcoming any intra-session correction, establishing protection and entering positive territory.

Individual stocks supported these efforts from the overall index, despite the caution that continued to dominate European markets, with investors focused on the upcoming central bank meetings of the Fed (Wednesday), the ECB and the Bank of England (Thursday). expected.

The upgrade of the country’s credit rating by Fitch on Friday is a positive surprise, but at the same time, it also supports the already favorable climate on the Athens Stock Exchange, as noted by Nikos Kavkas of Depolas Investment Services, who also raised the ceiling of the General Index slightly by 1050 due to increased volatility, but keeps the lower range at 930.

In the statistics of the meeting, the General Index closed with an increase of 0.91% to 1024.75 points, and the turnover amounted to 90.94 million euros. The Large Cap Index closed up 1.05% to 2484.53 points, the Mid Cap Index closed up 0.90% to 1565.27 points, while the Banking Index closed up 1.22% to 759. 56 points.

The value of transactions in yesterday’s session amounted to 90.94 million euros.

Of all the blue chips, Mytilineos, Piraeus Bank, HELLENiQ ENERGY, OPAP and GEK TERNA stood out with over 2% gains, while Alpha Bank, PPC and Jumbo rose over 1%. On the other hand, Ellactor closed down 4.81%, followed by Sarantis at -2.01% and Quest at -1.33%.

A “January effect” (or the famous January rally) has formed, with the Greek market not only outperforming but moving towards new 8-year highs, showing that something else is happening in the economy, according to Ilias Zaharaki. “Fast Finance” company. “The pre-election periods are overpaid, especially when the policies that brought us here are expected to continue,” he notes.

From a technical point of view, the market is in the overbought zone with a big trend, but is also close to the big target of 1038 units. The important thing is what kind of correction we will have, when it happens, and where the market will hit again. In essence, the overall index is trying to change the multi-year level and pave the way to 1,400 units, Mr. Zacharakis said.

“Party numbers are increasing every day, reminding us that in the short term, at least, we are getting closer to our first very big goal in the 1038 area,” the analyst concludes.