Correction of the stock market, in the shadow of the banking battle – Coca Cola



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Real fights have taken place today at the Athens Stock Exchange, which, although closed with little profit, continued to be "hurt" in its banking neuron, which was the target of strong sales.

In particular, the overall index finished on a gain of 0.14% to 604.26 points, while it has evolved today between 602.42 points (-0.17%) and 609.28 units. (+ 0.97%). The business turnover amounted to 76.3 million euros and the volume to 54.1 million pieces, while 8 million pieces were exchanged under the umbrella of. agreed transactions in advance.

The index of high-cap companies closed with an increase of 0.89% to 1 594.45, while that of the mid-cap companies finished at -1.48% to 944.59 points. The banking index ended with a loss of 2.14% to 421.46 points.

On the one hand, Coca Cola with + 3.75% and Piraeus and Ethniki with -7.96% and -8.64% respectively. A two-sided dashboard and the first to have been "used" by the long so that the market can not be left on unknown descendant channels.

This week, we will be one of the toughest of the last time, as we approach the top of the MSCI rebalancing, the Greek standard starting on Monday, not to mention Ethniki, Piraeus and Eurobank. Index funds shipped by truck will therefore solve the outstanding problems with these actions so that December does not find them against their statutes.

This is attributed to the increase in turnover today, which is twice as high as we had been used to in recent weeks. In fact, the packages now exceed 8 million units, mainly in the banking sector.

The question now is who will benefit from these changes. As indicated by the commodity sources on Capital.gr, the remaining Greek shares of the MSCI standard will receive a portion of the exits. However, until now, there is no apparent provision. And perhaps the short movements, which ultimately are responsible for the market at a technical level that increases the likelihood of their right. Indeed, since the spring that opened most positions, the short portfolios seem to dominate a shallow and volatile market.

However, the technical picture of the market shows that as long as the overall index remains below 610 points (the first level of opposition), the risk of moving to 575 points is visible. Of course, there is resistance around the psychological limit of 600 degrees, but as long as it can not overcome and regain levels above 650 units (the basic level of the voltage change), the negative scenario will remain in place and may be confirmed. as Friday's session approaches, rebalances will come to an end.

On the blackboard, with the exception of Coca Cola, the engine oil gained 2.50%, Eurobank gained 2.33% and OTE gained 2.02%. Jumbo, Viohalco, Grivalia, Aegean, OPAP and Terna Energy fell slightly. Without any change, Sarantis.

In addition, Fourlis and PPC closed with respective losses of 4.58% and 4%, with the exception of the two banks at the forefront of the decline, while Lamda and EYDAP fell by 3.88% and 3.09% respectively. Losses of 2.02% for Mytilinia and 1.25% for Alpha Bank, while HELEX, GEK Terna, OLP, Hellenic Petroleum, Titan and UDMI fell slightly.

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