Market Momentum: SET Index Skyrockets Over 10 Points as Big Players Make Major Buys
Thai Stock Market Sees Significant Surge in Afternoon Trading
Thai Stock Market Continues to Rise, Supported by Large Stock Purchases
At 2:40 pm, the SET index was at 1,434.69 points, an increase of 10.30 points (+0.72%).
Chaiphon Nomphitakcharoen, Managing Director of Securities Trading Department at Bualuang Securities, stated that the SET index’s afternoon rise of over 10 points is a significant increase compared to other Asian stock markets.
The main factor driving this surge is the appreciation of the Thai baht, which has led to continuous buying power from foreign investors, particularly in large stocks from value groups such as retail and hospitals. This trend follows the previous round of trading, where there was significant buying power in bank and communications stocks. Additionally, the sentiment may be supported by the first day of sales of Vayupak Fund’s new investment units.
The current trend of the SET index indicates an upward swing, with resistance at 1,445-1,450 points and support at 1,420-1,425 points.
By InfoQuest News Agency (16 September 2024)
Tags: SET, SET Index, stock market, Thai stock market, Thai stocks