Greek stocks ended lower in the first week of March, ending an 11-week rally which pushed the general index of the market 22.13% higher on the Athens Stock Exchange.
The market was hit by a wave of selling which prevailed in international markets, with bank shares at the focus on concers over systemic risk in the US banking sector following the bankruptcy of Silicon Valley Bank.
The general index of the market dropped 2.49% to close at 1,056.26 points, off the day’s lows of 1,053.23 points. The index ended the week with a net loss of 5.24%, ending an 11-week rally during which it gained 22.13%. The index is up 13.60% so far this year. The Large Cap index ended 2.85% down and the Mid Cap index fell 1.39%. Turnover was 113.76 million euros in volume of 49,552,587 shares. The market’s capitalization fell by 1.67 billion euros oin Friday.
OPAP (1.52%) and Aegean Airlines (0.28%) were the only blue chip stocks end higher while Alpha Bank (-6.18%), National Bank (-5.94%), Eurobank (-5.32%), Piraeus Bank (-4.62%) and Motor Oil (-3.50%) suffered losses. Health (2.71%) and Travel (1.41%) were the only blue chip stocks to move up, while Banks (-5.61%) and Oil (-2.77%) moved down. Alpha Bank and Eurobank were the most heavily traded securities of the day. Broadly, decliners led advancers by 89 to 14 with another 11 issues unchanged. Akritas (18.59%) and Reds (2.77%) were top gainers, while Frigoglass (-11.63%) and Minerva (-9.71%) were top losers.