The Stock Market Rebounds with Technical Rebound Index
Yesterday, the SET closed at 1,514.26 points, showing a 0.42% increase or 6.36 points. The trading value amounted to 42,367.61 million baht.
During today’s stock trading, the market witnessed a technical rebound. The index reached its lowest point at 1,503.23 points and the highest point at 1,517.37 points.
Mixed Performance of Securities
- The number of securities that increased reached 304, while 150 securities experienced a decrease. A total of 191 securities remained unchanged.
Explaining the market movement, Miss Chutikarn Santimethvirun, Senior Manager of the Securities Analysis Department at Phillip Securities (Thailand), stated that the Thai stock market experienced a technical rebound today. Following the previous day’s decline, investors decided to buy back stocks with unique positive factors, including retail, energy, and power plants. Notably, power plants received support from the government, including measures that brought relief to businesses within the electricity generation sector. For instance, PTT PCL (PTT) witnessed a decrease in natural gas prices charged to electricity generation businesses, dropping from 323.37 baht per million BTU to no more than 304.79 baht per million BTU. Additionally, the Electricity Generating Authority (EGAT) was allowed to delay collecting unpaid debts.
However, despite these adjustments, the overall picture remains negative. This is due to the Federal Reserve (Fed) indicating their plans for another interest rate hike this year, leading to an increase in the yield on US government bonds (Bond Yields). As a consequence, the Thai and US interest rates have diverged.
Market Outlook for Tomorrow
Tomorrow, the market is expected to swing to the side following the Bank of England (BoE) meeting tonight, where another 0.25% interest rate increase is anticipated. There is also a positive sentiment surrounding Mr. Settha Thavisin, the Prime Minister and Minister of Finance, attending the 78th United Nations General Assembly (UNGA78) in New York City, United States of America.
The support level is set at 1,500 points, while resistance is expected at 1,525 points.
Securities with the Highest Trading Value
- BDMS: With a trading value of 3,452.33 million baht, BDMS closed at 26.50 baht with no change in price.
- SCB: SCB had a trading value of 2,011.67 million baht and closed at 108.50 baht, experiencing a 1.50 baht decrease.
- PTT: Trading value for PTT totaled 1,425.78 million baht, with the stock closing at 33.25 baht without any price change.
- AOT: AOT had a trading value of 1,196.81 million baht and closed at 70.00 baht with a 0.25 baht increase.
- DELTA: DELTA witnessed a trading value of 1,130.30 million baht, closing at 104.50 baht and experiencing a 1.50 baht decrease.
SET closed today at 1,514.26 points, an increase of 6.36 points (+0.42%), trading value 42,367.61 million baht.
Stock trading today Technical rebound index The lowest point was 1,503.23 points and the highest point was 1,517.37 points.
In terms of securities, today’s changes increased 304 securities, decreased 150 securities, and 191 remained unchanged by 191 securities.
Miss Chutikarn Santimethvirun Senior Manager of the Securities Analysis Department, Phillip Securities (Thailand), said that the Thai stock market today had a technical rebound. After the decline yesterday, There is a buy back to stocks that have unique positive factors, including retail, energy, and power plants. Power plants are supported by government support measures. From giving PCL PTT. (PTT) the natural gas price charged to electricity generation businesses, which was originally set at 323.37 baht per million BTU, dropped to no more than 304.79 baht per million BTU. Including allowing the Electricity Generating Authority (EGAT) to refrain from collecting unpaid debts.
However, despite adjusting But the overall picture is still negative. After the Federal Reserve (Fed) indicated that it will continue to raise interest rates once again this year, increasing the yield on government bonds (Bond Yields) of the United States. Including the strengthening of the dollar. As a result, the difference between Thai and US interest rates has widened.
Market trends tomorrow Swing to the side Following the Bank of England (BoE) meeting tonight, interest rates are expected to increase by another 0.25% and a positive sentiment from Mr Settha Thavisin, the Prime Minister and Minister of Finance, attending the 78th United Nations General Assembly (UNGA78) in New York City, United States of America
Support is set at 1,500 points and resistance at 1,525 points.
As for the securities with the highest trading value, 5 securities
BDMS trading value 3,452.33 million baht, closed at 26.50 baht, price unchanged.
SCB trading value 2,011.67 million baht, closed at 108.50 baht, down 1.50 baht.
PTT trading value 1,425.78 million baht, closed at 33.25 baht, price unchanged.
AOT trading value 1,196.81 million baht, closed at 70.00 baht, an increase of 0.25 baht.
DELTA trading value 1,130.30 million baht, closed at 104.50 baht, down 1.50 baht.
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