The fourth consecutive day of gains at the Athens bourse gave the the benchmark its biggest advance as it climbed close to the 800-point mark, in line with most other markets that were open on Monday. Turnover topped 50 million euros despite the fact that major markets such as those of the US, Hong Kong and China were closed due to holidays.
The only way was up on Thursday for most banks after Wednesday's decline, with the credit sector (although not Piraeus Bank) carrying the rest of the stock market to significant gains - albeit not as impressive as some highs recorded during the course of the session. Turnover also headed higher - another encouraging sign.
The market's focus on the sovereign bond issue left the field wide open for sellers on the local bourse - and they took full advantage of it. Stocks suffered significant losses, again led by the bank sector. It had been expected by many that stocks were set to fall in Athens and the rest of Europe, due to rising concerns over vaccine supplies.
The stock market's reaction after three days of losses proved half-hearted on Tuesday, as the early recovery was contained later on, with most bank stocks posting losses. Some traders will have decided to save some of their liquidity for the new 10-year bond issue, which Greece announced on Tuesday halfway through the trading session.
The Greek bourse hit the ground running on the first trading day of 2021 on Monday, with prices growing as the session progressed and the closing auctions taking the benchmark above 820 points for the first time in almost 11 months. This time it was mainly energy stocks and other non-bank blue chips that led the index higher.