Derivatives Market Takes a Hit: Profit-Taking Pressure Sends Stocks into a Tailspin
Thai Market Analysis: SET50 Index Futures and Gold Prices
According to Sarawut Techochavilit, Senior Director of the Securities Analysis Department at RHB Securities (Thailand), the SET50 Index Futures experienced a decline in trading today, following a similar trend from last Friday, September 20. This downturn is attributed to market-at-35-10-baht-per-dollar/” title=”The baht 'depreciated', opening the market at 35.10 baht per dollar.”>investors taking profits after a previous increase, particularly in Vayupak stocks such as ADVANC and SCC.
The market is also expressing concerns over the rapid appreciation of the Thai baht, which has strengthened by more than 7% in the past two months, outpacing the regional average by over 1%. This significant appreciation has negatively impacted exports and tourism.
Looking ahead to tomorrow, the resistance level for the SET50 Index Futures is expected to be around 915-917 points, with a recommended short position and a support level at 903 points.
In terms of gold prices, a significant increase has been observed, and investors are advised to exercise caution when selling to make a profit. Tomorrow’s resistance level for gold is anticipated to be around 2,640 coins/oz, with a support level at 2,580 coins/oz.
The SET50 Index closed today at 913.23 points, down 0.36 points, or -0.04%.
Market Data
| Market | Outstanding Volume | Total Futures |
|---|---|---|
| Total Market | 756,491 | 3,823,362 |
| Equity Index | 332,514 | 743,382 |
| SET50 Index | 332,514 | 743,382 |
| Sector Index | – | 600,74,254 |
| Online Gold | 44,573 | 53,047 |
| Online Silver | 775 | 3,225 |
| Currency | 73,341 | 197,178 |
Trading Volume by Investor Group
| Investor Group | Futures | Options |
|---|---|---|
| Institutional Investors | -50,904 | -256 |
| Foreign Investors | -5,745 | +1,491 |
| Domestic Investors | +56,649 | -1,235 |
By Saowalak Phonphon