Institutions-Prop Trade Buoy SET as Foreigners Slow Down, Bringing SET to Surge 24pts
The total value of buying and selling separated by the investor's type as of June 5, 2020.
– SET Index closed at 1,435.70 points, increased 24.69 points or 1.75% with a trading value of 120 billion baht. The index rose 48% from its 970 point in March. The analyst stated that the Thai stock market soared in the afternoon session, breaking the resistance level at 1,430 points, in response to the fund inflow as the energy sector and petrochemical were on top of the leader’s board, hoping the OPEC and its allies’ meeting (reportedly on Saturday, June 6) to approve further output cut.
The analyst advised investors to be cautious in next week’s session due to the market has an outstanding gain this week, giving a support level at 1,400 points and a resistance level at 1,460 points.
– Local Institutions and Proprietary Trading combined a total of 3.6 billion baht of net buy, sending SET Index to close 24 points higher.
