The stock market closed today at 1,365.72 points, up 1.41 points (+0.10%), with a turnover of 43,085.76 million baht. Analysts revealed that the Thai stock market is swinging narrowly today after failing to break above the 200-day moving average at 1,370 points. Selling pressures alternated after profit-taking and were adjusted to reflect political clarity. Investors are waiting to follow the new government and its policy announcements. The market is expected to continue to fluctuate tomorrow in the range of 1,357-1,370 points.
The stock exchange closed today at 1,365.72 points, up 1.41 points (+0.10%), with a trading value of 43,085.76 million baht.
Today's stock trading is fluctuating within a narrow range and moving in the positive and negative zone alternately. The highest point was 1370.67 points and the lowest point was 1356.51 points.
As for securities, today's change increased by 191 papers, decreased by 281 papers, and remained unchanged by 185 papers.
Mr. Kitphon Pripisankit, Assistant General Manager, Securities Analysis Department, UOB Kay Hian Securities (Thailand) He said the Thai stock market moved in a narrow range today after the SET index rose to test the 1,360-1,370 point area, which is the 200-day moving average, causing profit-taking to start shifting to book profits in the short term.
Looking at the stock group this week, there is a support level between 1,330-1,340 points and a resistance level between 1,365-1,370 points, meanwhile, today's “Thailand Focus” event did not lead to a significant rise in the market. From the previous statistics, there may not have been a big move during the event.
The important factor driving the index higher is political clarity. The short-term market reflects the above factors. We still have to wait and see what the new government’s policy will be. Will the same policy continue or not? Or how will it be changed? It is an uncertain picture and therefore investors are not in a hurry to buy.
In addition, in the past, the stock markets in this region including the Thai stock market have improved better than global stocks. Southeast Asian currencies, including the peso, ringgit, rupee and baht, have strengthened rapidly in response to the trend of lowering interest rates. Seeing that the stock market rebounded during the month, August may just be a force for foreign speculation in both the currency and the stock market. Foreigners who come to buy Thai stocks expect to make a profit of 15-20% from the baht rising by 9%, the Thai stock market rising by 7% and individual stocks rising by more than 7%. Therefore, there is an opportunity to sell for profit
The SET is expected to continue to fluctuate in the 1,357-1,370 point range heading into tomorrow, and it is expected to take a long time to break above the 200-day average or more, so we are likely to see profit-making pressure on the turnaround in individual stocks. I recommend investing in late-stage stocks.
The securities with the highest trading value are 5 securities.
Delta's trading value reached 2,421.84 million baht, closing at 107.00 baht, up 4.50 baht.
ADVANC's trading value reached 2,012.62 million baht, and closed at 250.00 baht, up 3.00 baht.
PTT's trading value was 1,743.14 million baht, closing at 33.25 baht, down 1.25 baht.
BDMS's trading value reached 1,336.07 million baht, closing at 28.00 baht, up 0.25 baht.
KBANK's trading value reached 1,295.90 million baht, closing at 143.50 baht, unchanged.
By InfoQuest News Agency (August 28, 2024)
Tags: group, stock market, thai stock market, thai stocks
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