A strong reaction after Friday’s “fall” was noted on the Athens Stock Exchange, the signal was the shares of banks, as a result of which the overall index rose above 1035 points. However, the session was characterized by a significant decline in turnover, with trading activity declining for several days.

As events show, March will be the first bearish month for AXA. after five months of growth due to turmoil caused by banking problems at the international level. If the international environment normalizes, the March correction may open up opportunities for new placements, although the pre-election factor will certainly cause volatility in the market, domestic analysts say.

In the statistics of the session, the General Index closed with an increase of 1.43% to 1035.72 points, and the turnover amounted to 48.78 million euros. According to Merit Securities, support points are located at 1020 and 968 points, and resistance points are located at 1083 and 1133 points.

The Large Cap Index closed up 1.56% to 2503 points, while the Mid Cap Index closed up 0.7% to 1524.84 points.

If the international climate returns to normal, the March correction could open up opportunities for new placements.

The banking index rose and strengthened by 2.59% to 755.28 points, while Piraeus Bank recorded an increase of 3.72%, followed by Eurobank with +2.94%, Alfa-Bank with +2.75% and the National bank from +1.38%.

Among non-banking blue chips, Aegean posted the largest gain of +3.83%, followed by ELVALHalcor, Titan, Autohellas, GEK TERNA and Jumbo with over 2% gains. On the other hand, PPC recorded a 1.03% drop, Lamda Development closed at -0.8%, and Ellactor, EYDAP, OTE and HELLENiQ ENERGY recorded small losses.

This week marks the end of the first quarter, Beta Securities notes, with the overall index still positive since the start of the year, but its results in March were accompanied by significant losses, which increases the degree of correlation with international markets. The severity and intensity of the events do not leave much room for autonomy, while political events now have as their starting point the last ten days of May, in which everything indicates that the elections will be held by simple proportionality.

After evaluating most of the performance of companies monitored by foreign institutions, the only chance that there will be any autonomy will be the announcement of some decisive business deal, although the patience of the market has been tested by the market. the duration of the rumors in such a case.

From a technical point of view, the General Index, after testing four-week lows in a rapid fall to 998 points last week, successfully tried to respond to the 1060 mark. This area is not indifferent as it marks a 38.2% retracement between 917-1140 units, the brokerage concludes.