Athens Stock Exchange: Defending against profit taking

Today, the Greek stock market is going through the… pain of securing profits, which clearly after an impressive session should provide liquidity to participants, satisfying the basic principle of investments.

The general index recorded gains of 0.24%, at 1,204.17 points, with the turnover at 10 million euros.

As expected, the picture of the market today is completely different from yesterday’s impressive rally, but that does not mean that the sentiment has changed. Many portfolios are going through the… fund today in order to lock in some of yesterday’s gains and improve their exposure to a market that sooner or later will be part of an investment grade economy.

As Eurobank Equities analysts point out, “although there will be some mild profit-taking, overall strong momentum will be maintained in the coming weeks as investors assess political risk and the stable economic outlook for Greece, including possible upgrade of Greece to investment grade as early as the second half of 2023. Euroxx estimates the same.

The picture on the dashboard
In terms of securities, EYDAP, Alpha Bank, OPAP, OTE, PPC, Motor Oil, Coca Cola, Eurobank, Terna Energy, Jumbo, GEK Terna and Piraeus are now in positive territory, while Aegean, Ethniki, Hellenic Petroleum, Mytileneos, Titan, Lambda, Biohalco, PPA, Autohellas, Sarantis and ELHA.