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Thai Stocks Plummet 3.90: Breakout Point Reached Amid Profit-Taking Frenzy

Thai Stocks Plummet 3.90: Breakout Point Reached Amid Profit-Taking Frenzy

September 26, 2024 Catherine Williams - Chief Editor Business

Thai Stock Market Update: Morning ⁢Session Closes at​ 1,457.68 ‌Points

Editor’s Picks, Stock News
⁢12:41 hours 2024-09-26

Thai Stock Market Update

Market Performance

The Stock Exchange closed‌ the morning session at 1,457.68 points, ‌down 3.90 points (-0.27%), with a⁣ trading value ‍of approximately 29,715 million‍ baht.

During morning trading, the ⁤index stabilized,⁤ reaching‌ a high of 1,464.81 points and‍ a ⁢low of 1,453.88​ points.

Expert ‌Analysis

Mr. Wathan Jitsomnuk, Director of Strategic Analysis at Pye Securities, stated⁤ that the Thai ⁣stock market ‌in the morning was still in a resting position, contrary to other stock markets in Asia which continued to ‌rise.

This ​is ‍because investors⁣ have‌ already recognized quite‌ a ‍few positive factors, giving some sales power and​ profit. However,⁤ the market has begun to enter⁤ a state ⁤of lack of new‌ factors, and‌ the valuation of Thai stocks in the current zone has begun to ⁢become expensive.

Market Outlook

However, it is seen that the SET is only resting in the short term after a continuous rise, ⁣and the market still has supporting factors pending from the Vayupak Fund funds which will start investing in a month this October.

The afternoon trend ⁣is expected for the market to continue fluctuating in negative⁤ territory pending new factors. It is recommended to follow the release of the Personal Consumption Expenditure (PCE) price index for August in‍ the United States, expected to be 2.3% on Friday.

Support and Resistance ⁣Levels

Today’s support level is 1,448⁢ points, and the resistance level ‍is 1,463 points.

Top-Traded Securities

  • IVL: trading value 1,585.47 million baht, closed at 24.40 baht, down 0.50 baht.
  • EA: trading value 1,218.80 ‌million⁢ baht,⁢ closed at 8.55 ‍baht,⁤ down 0.25⁤ baht.
  • BANPU: trading value 1,114.61 million baht, closed at‍ 6.95 baht, down 0.10 baht.
  • BCH: trading value 1,033.39 million baht, closed at 18.10 baht, up 1.00 baht.
  • VGI: trading value 995.65 million baht, closed at 2.42 baht, up 0.04 baht.

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