With significant gains of 3.60%, the stock market closed the week ending, moving to new 9-year highsclosing at 1,261.67 points at its highest point since the June 23, 2014 session (1,270.38 points).

The Greek stock market continues to prove its dynamics. It has been at multi-year highs and every day there are several titles that pass 52-week highs, while there are not a few titles that move at historic highs. Capital inflows continue at a rate that is pleasantly surprising. Apart from the Banking shares which are the undisputed protagonists this year, the rise has also spread to the rest of the shares.

New increases in target prices for Greek banks are proceeding Goldman Sachs. He sets the target price for Alpha Bank at 1.95 euros (from 1.70 euros previously), at 6.90 euros (from 6.20 euros) for National Bank, at 3.35 euros (from 2.75 euros) for Piraeus and at 1.70 euros (from 1.55 euros) for Eurobank. The report notes that Greek banks had strong Q1 results underpinned by: a stronger than expected pass-through of higher interest rates to net interest margins (NIMs) and resilient asset quality trends with zero new NPL formation in the quarter . The prospect of forming a strong Government increases expectations for a quick recovery of the investment grade.

Citi and Société Générale expect Greece’s outlook to be upgraded to positive, but not its rating, from the planned evaluation Fitch tonight, so the investment grade will be closer but not yet given.

But the gains of the last period are quite high and more attention will be needed in the next period, because a short-term suffering is no longer unlikely.

THE General Price Index closed the week at 1,261.67 points, compared to 1,217.86 points the previous week, marking a weekly gain of 3.60% and since the beginning of 2023, it has recorded gains of 35.69%.

Technically, the 1,268 level is the next strong resistance to the market’s upward movement, while the 1,240 level is the closest support.

The index of high capitalization FTSE/ASE 25 closed the week with an increase of 3.69%, while since the beginning of the year it has increased by 36.02%. The index FTSE MID CAP closed the week with a rise of 4.47% and since the beginning of 2023 it has strengthened to a percentage of 34.27%.

The banking index closed the week with an increase of 5.85%, while since the beginning of the year it has gained 59.14%.

The total value of transactions in this week’s sessions was 618.273 million euros, while the average daily value of transactions was 154.568 million euros from 141.479 million euros the previous week.

The total market capitalization this week increased by 2.303 billion euros and reached 85.087 billion euros, while since the beginning of the year it has increased by 19.225 billion euros.