Greek stocks rebounded by 5,40% on Friday after remaining under heavy selling pressure for seven successive sessions in the Athens Stock Exchange until Thursday, temporarily pushing the composite index of the market below the 560-point support level. Traders said bank shares were at the focus of selling activity, with the index losing more than 30 pct in the last seven sessions.
The composite index had dropped 3.31 pct to end at 556.48 points, off the day’s lows of 553.07 points. The index is down 14.86 pct in the last seven sessions and the bank index down 31.14 pct in the same period. The Large Cap index fell 4.24 pct and the Mid Cap index ended 1.93 pct lower. Turnover was an improved 86.471 million euros in volume of 155,439,660.
Jumbo (1.25 pct) and Titan (1.13 pct) were the only blue chip stocks to end higher, while Piraeus Bank (13.13 pct), National Bank (10.18pct), Viohalco (9.70 pct) and Lamda Development (7.69 pct) suffered the heaviest percentage losses of the day. Among market sectors, Personal Products (0.78 pct) and Constructions (0.45 pct) scored gains, while Banks (9.64 pct) and Raw Materials (5.13 pct) suffered losses.
National Bank and Piraeus Bank were the most heavily traded securities of the day. Broadly, decliners led advancers by 71 to 30 with another 13 issues unchanged. Domiki Crete (16.28 pct), Lazaridis Estate (9.89 pct) and Intertek (9.88 pct) were top gainers, while Kepenos Mills (30 pct), Attica bank (15.86 pct) and Piraeus Bank (13.13 pct) were top losers.
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