Greek stocks plunge 11.62 pct in the last two sessions‏

Greek stocks suffered another dramatic day of losses in the Athens Stock Exchange on Wednesday, pushing the composite index of the market 11.62 pct in the last two days. The index fell as much as 10 pct during the session, to end at its lowest levels since July 2013.

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Traders said foreign funds continued their massive exit from the market on concerns over Athens’ plans for an early exit from a bailout program and the prospects of a snap general election.

Market sentiment was further burdened by a sharp rise in the yield of the 10-year Greek bond to 7.6 pct and a negative climate prevailing in international markets.

The composite index fell 6.25 pct to end at 888.93 points, after falling as low as 852.87 points. The index is down 23.54 pct so far this year. Turnover soared to a heavy 263.04 million euros.

The Large Cap index dropped 6.32 pct and the Mid Cap index ended 4.64 pct. All blue chip stocks suffered heavy losses, led by GEK Terna (16.67 pct), Terna Energy (14.55 pct), Athens Water (14.04 pct), National Bank (11.06 pct), Viohalco (10.46 pct), OPAP (9.68 pct) and PPC (9.67 pct).

All market sectors ended lower, led by Utilities (10.99 pct), Travel (9.09 pct), Personal Products (7.23 pct), Industrial Products (7.22 pct) and Banks (7.00 pct). Broadly, decliners led advancers by 113 to 21 with another 12 issues unchanged. Domiki Crete (19.64 pct), Viokarpet (14.94 pct) and NEL (12.50 pct) were top gainers, while Minerva (29.91 pct), Mermeren (21.10 pct) and ANEK (20 pct) were top losers.