Greek stocks rebounded strongly, recording one of their biggest daily rallies

Greek stocks rebounded strongly in the Athens Stock Exchange on Monday, recording one of their biggest daily rallies, amid speculation that that Greek government and its creditors were closer to reaching an agreement.

Bank shares were at the focus of buying activity, with the relative index soaring more than 20 pct.

The composite index of the market jumped 9.0 pct to end at 749.17 points, off the day’s highs of 754.99 points. The Large Cap index soared 8.63 pct and the Mid Cap index ended 7.17 pct higher.

Turnover was a heavy 136.89 million euros, while the market’s capitalization grew by 3.7 billion euros. All blue chip stocks ended higher, led by Alpha Bank (23.79 pct), Piraeus Bank (21.17 pct), National Bank (20.45 pct), Eurobank (18.70 pct), Hellenic Exchanges (17.33 pct), Viohalco (15.57 pct) and Hellenic Petroleum (15.31 pct).

All sectors scored gains, with the Banks (20.79 pct), Financial Services (17.37 pct), Oil (11.45 pct) and Commerce (11.34 pct) scoring the biggest percentage gains of the day. Broadly, advancers led decliners by 93 to 24 with another 32 issues unchanged. Hatzikraniotis (27.72 pct), Alpha Bank (23.79 pct) and Piraeus Bank (21.17 pct) were top gainers, while Dromeas (16.79 pct), Progressive (15.79 pct) and Audiovisual (10 pct) were top losers.