Thai stocks closed at +4.96 points and brokers revealed that the index moved in the positive zone after the overall budget for the first quarter of 2024, which came out well. Reflecting the outlook for the second and third quarters, which is gradually recovering according to the economic trend next week, we expect the market to test 1,400 points after successfully standing above the 1,380 points level, and support is assessed at 1,375-1,370 points and 1,385-1,395 points.
The Thai stock market closed for trading on May 17, 2024, rising +4.96 points, or +0.36%, to close at 1,382.68 points, with a trading value of 40,241.23 million baht, while the total stock trading today reached the index moving in the positive zone. During the day, it rose to a maximum of 1,384.82 points, and in the opposite direction, it fell to a minimum of 1,376.79 points.
While the number of securities that changed today increased by 276 securities, remained unchanged by 190 securities, and decreased by 199 securities.
In terms of trading volume disaggregated by investor group, it was found that foreign investors had net purchases of more than +831.68 million baht, institutional investors had net purchases of more than +577.54 million baht, and domestic investors had net purchases of more than -885.51 million baht. Securities companies' accounts sold net more than -523.71 million baht.
The securities with the highest trading value are 5 securities
1.CPALL's trading value reached 1,773.30 million baht, closing at 59.00 baht, down 0.25 baht.
2. Delta's trading value reached 1,268.75 million baht, closing at 76.75 baht, an increase of 1.75 baht.
3.KBANK's trading value reached 1,124.48 million baht, closing at 134.00 baht, an increase of 0.50 baht.
4.Trade value 988.71 million baht, closing at 67.00 baht, an increase of 1.00 baht.
5.Trade value 988.26 million baht, closing at 41.25 baht, an increase of 1.00 baht.
While the SET100 index closed at 1,884.07 points, an increase of 7.98 points, or 0.43%, the SET50 index closed at 853.89 points, an increase of 3.74 points, or 0.44%, and the May Market index closed at 384.27 points, an increase of 0.61 points. Or 0.16%.
Today's Thai stock market has a good trend, said Mr. Narongdit Chanthabeesarn, Director of Securities Analysis at AIRA Securities. It had good results for the first quarter of 2024. As well as the earnings trend in the second and third quarters that are gradually recovering, such as stocks in the electronic components group such as DELTA and petrochemical groups such as PTTGC that improved.
While Q1 2024 results were good, Bloomberg estimated EPS for the year at 94-96 baht, representing a P/E that is still below average. The reversal in Thai stock valuation has become more interesting.
“Next week, it is expected that the market can continue to swing sideways towards positive territory. It is expected to test 1,400 points after successfully standing above the 1,380 point level. We recommend following the release of Thailand’s GDP numbers for the first quarter of 2024.” , providing support at 1,375-1,370 points and resistance at 1,385-1,395 points. Mr. Narongdj concluded his speech.
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