Institutions and Individuals Combine a Net Buy of ฿7bn to Recover SET by 15pts
The total value of buying and selling separated by the investor's type as of March 10, 2020.
– SET closed at 1,271.25 points, increased 15.31 points or 1.22% with a trading value of 74.6 billion baht. The analyst stated that the Thai stock market bounced back in today’s session in the same direction with the regional market in a technical rebound and hopes of an injection from the US Federal Reserve. Dow Jones Futures also jumped 1,000 points after the U.S. President Donald Trump floated the idea of a payroll tax cut.
The analyst also stated that the plummet was heavy due to oil-related stocks dragged the market down. On the other hand, there were some benefiting stocks from this crisis and some already entered recession. Thus, the current situation is considerably interesting to invest in the stock market. To be safe, it is better for the index to reach 1,300 points to gain potential for further hikes.
A support level for tomorrow’s session is 1,250 points and a resistance level at 1,300 points.
– Local Institutions, Individuals and Proprietary Trading combined a net buy of THB 7.2 billion to recover SET Index by 15 points.
