Institutions and Foreigners Combine a THB3.9 Billion of Net Buy as SET Surges 21pts

– SET Index closed at 1,570.99 points, increased 21.15 points or 1.36% with a trading value of 75.2 billion baht. The analyst stated that the Thai stock market made a technical rebound, while estimating that the market could react positively to the Covid-19 situation that edged slightly lower for the second day, coupled with a relief package that the Thai cabinet gave a nod to in today’s meeting.

The analyst stated that the market still needs to keep monitoring the Covid-19 situation in Thailand, while waiting for the earnings announcement from the banking sector in which TISCO is expected to be the first bank to announce its result.

Moreover, the analyst recommended keeping an eye on the U.S. Fed testimony to Congress, which will be held on 14-15 July.

In addition, the analyst still saw limited upside to the SET Index, giving a support level for tomorrow’s session at 1,550-1,540 points and a resistance level at 1,573 points.

– Local Institutions net bought Thai shares for 2.4 billion baht, while Foreign Investors gave a second push for 1.4 billion baht to buoy SET Index by 21 points.