A 4.3 Billion Baht Buyback from Institutions Pushes SET Index to Close 40pts Higher!
The total value of buying and selling separated by the investor's type as of April 17, 2020.
– SET Index closed at 1,239.24 points, increased 39.09 points or 3.26% with a trading value of 59 billion baht. The analyst stated that SET Index made a huge move to be in line with other regional markets that closed the day with a gain of 2-3% after the U.S. reported an effective drug for treating coronavirus and tended to ease the lockdown step by step.
Meanwhile, Thailand is also expecting to ease the lockdown as well when the new coronavirus cases started to stabilize.
The analyst expected stocks related to department stores like CPN, HMPRO, ADVANC, COM7 would have positive sentiment along with the recovery of BEM and BTS. The regulations would be more detailed next week after making sure that the virus has been contained to a limited area.
The oil prices continued to decline despite the production cut of 9.7 million from OPEC and Non-OPEC due to an overwhelm of lower demand in the market.
The analyst expected the market would continue to fluctuate as well as the oil prices, giving a support level at 1,200-1,190 points and a resistance level at 1,240-1,250 points.
– Local Institutions made a buyback for a total of 4.3 billion baht, while Individuals sold the rips for 4.1 billion baht.