The Athens Stock Exchange moved with significant volatility and declining turnover, with the overall index losing its early morning gains and closing in negative territory following a “reversal” in banking stocks. Daily highs and 1060 units provoked sellers in an attempt to take profits made during the two-day market bounce.

Analysts believe that with the climate remaining volatile and nervousness high, attempts to win parliamentary seats make sense. As they point out, what is certain is that the optimism that has prevailed in the financial sector internationally due to higher interest rates has been significantly affected and upward movements, at least in the short term, will be rather limited compared to recent past. .

In the statistics of the session, the General Index closed down 0.45% to 1044.96 points, and the turnover amounted to 76.2 million euros.

The Large Cap Index closed down 0.72% to 2553.42 points, while the Mid Cap Index closed marginally up 0.02% to 1528.8 points.

In non-banking blue chips, PPC, Jumbo and Sarantis recorded losses of over 2%, followed by Biohalco, EYDAP, OPAP, OTE and Titan with over 1% losses. Ellactor – +2.88%, and Coca-Cola – +2.18%.

The climate remains volatile, analysts say, and consolidation moves are prudent.

The banking index showed the worst results, recording losses by 1.4%, to 779.97 points, while the National Bank fell by 1.94%, Eurobank by 1.93%, Piraeus Bank by 1.53%, and marginal losses by 0 .04% Alfa-Bank noted.

According to analysts, the volatility in the markets is a logical consequence of recent events with banks, as it became clear that the scale of Credit Suisse’s problems is greater than expected by the markets, which, moreover, were already aware of the bank’s pathologies. that’s at least two years.

For now, however, the decisive stance of the Swiss Central Bank has restored calm. At the same time, EU institutions, as well as investment houses and rating agencies, note at every opportunity that eurozone banks are in a much different and stronger position than during previous crises.

In any case, the events of recent days have become a reminder of how quickly market sentiment can change and put pressure on financial stability. At the same time, the turmoil suggests that the rapid increase in interest rates and the rapid tightening of monetary policy at the international level are causing financial “cracks”.

In this context, A.A. cannot be matched by movements in foreign markets, despite the fact that Greek banks are clearly well positioned to deal with the new import crisis, thanks to their strong liquidity and capital positions. So, while the General Index is trying to find a balance after the hit this week, the time it will take to “see” new highs is increasing.