Local Institutions Turn Around to Buoy SET Index to Close Higher with ฿1.5bn Net Buy
The total value of buying and selling separated by the investor's type as of February 21, 2020.
– SET closed at 1,495.09 points, increased 3.85 points or 0.26% with a trading value of 56 billion baht. The analyst stated that SET Index opened lower and moved in negative territory all day before making a technical rebound after the Constitutional Court issued an order to dissolve the Future Forward Party not long before the closing of the trading day. The dissolve would increase stability for the government, led by the Palang Pracharath Party.
However, the market still has a bearish outlook due to the coronavirus outbreak and the plummet in GDP forecast in 1Q20 and 2020.
In addition, the analyst expected SET Index to recover after bearish sessions this week, setting a support level at 1,480-1,475 points and a support level at 1,500-1,510 points.
– Local Institutions, Proprietary Trading and Individuals combined a 2.7 billion baht of net buy to pull SET Index higher before closing.
