The stock market rebounded in the week ending, recording gains of 2.88%, after six consecutive weeks of decline, during which the main stock index recorded a total loss of 12.53%, while the total market capitalization was reduced by 9.564 billion . euro.

A “relief rally” was recorded in Tuesday’s stock market session (+4.19%) as oversold prices sparked investor interest. The market pullback brought it into oversold territory, having surrendered most of the outperformance (against major European equities since the start of the year. Two more bullish sessions followed, but no sustained bullish momentum could be built as sentiment worsened from a series of geopolitical and economic uncertainties.

The international scene remains fragile, with Deutsche Bank noting that the risk of a “crash” is rising

as the global economy is buffeted by many headwinds, with government bond yields at multi-year highs around the world, and geopolitical issues remaining front and center.

While market reaction remains muted, some analysts warn that several risks stemming from the Hamas-Israel conflict have not yet been fully assessed. International markets have not yet fully priced in the inflationary risks from developments, from higher oil prices. If it is confirmed that Iran is involved, an escalation of the war would be imminent, most analysts believe – which could push the markets into a risk-off climate (sell-off of stocks and a shift to bonds or gold).

The General Price Index closed the week at 1,169.66 points, compared to the previous week’s 1,136.93 points, marking a weekly increase of 2.88%, while since the beginning of 2023 it has recorded gains of 25.80%.

The FTSE/ASE 25 large-cap index closed the week up 3.27%, while it has gained 26.75% since the beginning of the year.

The FTSE MID index closed the week down 0.21%, while since the beginning of 2023 it is up 33.48%.

The banking index closed the week with a gain of 3.90% and since the beginning of the year it has gained 43.05%.

The total value of transactions in this week’s sessions was €621.710 million, while the average daily value of transactions was €124.342 million from €82.374 million the previous week.

The total market capitalization this week increased by 1.736 billion euros and reached 79.598 billion euros, while since the beginning of the year it has increased by 13.736 billion euros.