Institutions Plunge the Market with a ฿5.1Bn Selloff, Dropping SET by 3pts ATC!
The total value of buying and selling separated by the investor's type as of October 22, 2020.
– SET Index closed at 1,213.61 points, decreased 2.87 points or 0.24% with a trading value of 66.2 billion baht. The analyst stated that the Thai stock market faced a selloff before closing as the market will enter a long holiday while the political unrest remained even though the government lifted a severe state of emergency in Bangkok.
The IMF stated that the Asia GDP would shrink by 2.2% in 2020, which was more than it previously thought. Meanwhile, the European stocks open lower as the stimulus bills in the U.S. dragged on.
The analyst expected the trading session for next week to be dull as political issues would remain a negative sentiment to the market, giving a support level at 1,200 points and a resistance level at 1,220 points.
– Local Institutions net sold 5.1 billion baht, coupled with a selling pressure of 661 million baht from Foreign Investors to plunge SET Index nearly 3 points at the closing.
