A Buying-Solo of ฿10.8bn from Institutions to Saves SET Index from a Meltdown
The total value of buying and selling separated by the investor's type as of March 13, 2020.
– SET closed at 1,128.91 points, increased 14 points or 1.26% with a trading value of 119 billion baht. The analyst stated that the SET Index was very fluctuated in today’s trading session with a gap of 198.08 points between the session’s high and low as fears over the global coronavirus outbreak continued to weigh on investors sentiment.
The bounceback, though fluctuated, was due cheap valuations after plunging to 970 points, coupled with short-sell restriction from the SET and news over another QE by the Fed.
The buying pressure slowed down at the end of the session due to no solid measures on how to contain the outbreak in Thailand, thus, investors chose to wait and see how it would play out during the weekend.
The analyst gave a support level at 1,100-1,050 points and a resistance level at 1,150-1,200 points, while stating that a drop lower than 1,000 points might be hard to occur.
– Institutions made a buying-solo with ฿10.8bn in value, saving the SET Index from sinking into the abyss.