Institutions and Prop Trade Combine ฿2.8Bn Selloff, Lowering Risks on Covid-19 Situations
The total value of buying and selling separated by the investor's type as of July 8, 2021.
– SET Index closed at 1,543.67 points, decreased 32.93 points or 2.09% with a trading value of 111 billion baht. The analyst stated that the main reasons for the plummet in the Thai stock market today were due to the decline in oil prices and concerns over rising Covid-19 cases in Thailand that could possibly lead to a full lockdown, resulting in a selloff to lower the risk from uncertainties.
Meanwhile, the European stocks and Dow Jones Futures also traded lower on concerns over the U.S. Fed lowering QE, even though the lowering QE would not happen in a fast pace.
The analyst stated that if new Covid-19 cases in Thailand continue to spike, the market could plunge further, giving a support level at 1,530 points and resistance level at 1,560 points.
– Local Institutions and Proprietary Trading combined a 2.8 billion baht to plunge SET Index by 33 points.
