Thai stocks closed 1.80 points lower as selling pressure in banks continued. Buying pressure weakens as Songkran approaches: InfoQuest

• The stock market closed today at 1,373.89 points, down 1.80 points (-0.13%), with a trading value of 30,647.15 million baht.

• Today's stock trading, the index is moving in the negative zone, and the index recorded its lowest point at 1368.80 points, and the highest point at 1379.41 points.

• As for changes in securities today, 150 securities rose, 342 securities decreased, and 171 securities remained unchanged.

Mr Narongdet Chanthapaisarn, Director of Securities Analysis at AIRA Securities, said the Thai stock market index fell today but not by much. Both positive and negative movements are area-like. There are no new factors to support it. Investors lowered their expectations after the Federal Reserve begins cutting interest rates this month. June was starting to feel uncertain. Even as Fed Chairman Jerome Powell reiterated his view that the Fed will definitely cut interest rates this year. But US economic numbers remain strong. The market is still unsure how many times the Fed will cut interest rates this year.

Our market is still facing selling pressure from banks. In response to concerns, the Monetary Policy Committee will cut interest rates next week, however, there is still purchasing power in the energy sector, still supporting the market to some extent.

Tomorrow's Thai stock market trend is expected to swing sideways. But as the Songkran Festival approaches, purchasing power will decline. Foreign investors are likely to sell to reduce risks before the release of important US economic figures next week.

The support level is 1,370 points and the resistance level is 1,385 points.

The securities with the highest trading value are 5 securities

• Credit and Savings Bank Trading value reached 1,624.89 million baht, closing at 111.50 baht, down 1.00 baht.

• CPALL Trading value reached 1,406.60 million baht, and closed at 55.50 baht, an increase of 0.50 baht.

• Bubble Trading value reached 1,260.84 million baht, closing at 136.50 baht, down 0.50 baht.

• Tesco Trading value reached 1,153.32 million baht, closing at 98.75 baht, down 0.50 baht.

• In order Trading value reached 1,150.68 million baht, and closed at 158.00 baht, an increase of 0.50 baht.

By InfoQuest News Agency (04 April 2024)

Tags: SET, Narongdet Chanthapaisarn, Thai stock market, Thai stocks