Intense volatility and buying sentiment have been noted on the Athens Stock Exchange, which is trying to digest the volatility caused by the announcement of the date of the elections, as well as scenarios for the outcome of the vote.

The overall index fluctuated from -0.84% ​​at the day’s low to +0.83% at the high, but buyers prevailed in the end, sending the overall index into positive territory, helped by some blue chips and bank stocks. .

Elections in Greece may lead to increased volatility, but it would be an exaggeration to cause a significant correction at least at this stage, said Nikos Kavkas, head of research at Depolas Investment Service. “We remain positive on the overall index, but we strengthen our position on a case-by-case basis and in more defensive sectors,” he emphasizes. A more significant level of support is on the stock exchange in the region of 980-960 USD, and the expected price range for the next session is within 980-1100 USD.

The overall index fluctuated from -0.84% ​​at the lows of the day to +0.83% at the highs.

In the statistics of the session, the General Index closed with an increase of 0.70% at the level of 1030.65 points, and the turnover amounted to 73.85 million euros. The large cap index closed up 0.81% to 2496.07 points, the mid cap index closed up +0.88% and 1516.11 points, and the banking index closed up +0.68% and 749.53 points.

Among the blue chips, OTE stood out with +3.33% and TERNA Energy with +3.1%, Piraeus Bank closed with growth of 2.24% and growth of more than 1% Alpha Bank, National Bank, Aegean, PPC and Autohellas. On the contrary, Motor Oil and Sarantis recorded a fall of more than 2%, while losses of Eurobank and Ellactor accounted for more than 1%.

We are going through the last week of the month, which reminded us that the stock market also needs to correct, as noted by Ilias Zacharakis of Fast Finance. After five months of growth, we have the first bearish month with a normal correction since the last rally, which began in October, and 787 points. Repeated banking crises both in America and in Europe gave a reason to correct A.A. big rally in the industry, he adds.

Especially for the banking sector, Mr. Zacharakis notes that even after a major correction, it continues to move with double-digit profits since the beginning of the year. After all, what several banks around the world go through, the Greeks in the recent past have generously “paid”. Now they are, as he emphasizes, the “cleanest” in Europe, which makes investors look at them differently. “Let’s not forget that in the previous period, some funds bought at significantly higher levels, and the fact that Greek banks are in a different phase will be visible after the elections,” he characteristically notes.