Market Momentum: SET Index Surges Past 10-Point Mark in Afternoon Trading
Thai Stock Market Sees Significant Uptick in Afternoon Trading
The Thai stock market experienced a notable surge in the afternoon, with the SET index rising by over 10 points. This upward trend was largely driven by substantial purchases of large stocks.
As of 2:40 pm, the SET index stood at 1,434.69 points, representing an increase of 10.30 points or 0.72%.
Expert Insights
Chaiphon Nomphitakcharoen, Managing Director of the Securities Trading Department at Bualuang Securities, attributed the SET index’s significant rise to the appreciation of the baht. This, in turn, has led to sustained buying power from foreign investors, particularly in value groups such as retail and hospitals.
Mr. Nomphitakcharoen noted that the current trading pattern is a continuation of the previous round, where significant buying power was observed in bank and communications stocks. Additionally, the first day of sales for Vayupak Fund’s new investment units may have also contributed to the positive sentiment.
Market Outlook
The SET index is poised for an upward swing, with resistance levels at 1,445-1,450 points and support levels at 1,420-1,425 points.
By Jirayut Chansongsakul/Sasithorn Simaporn