Institutions Take a Leave along with ฿12.7bn Worth of Investment amid Global Plummet
The total value of buying and selling separated by the investor's type as of March 9, 2020.
The total value of buying and selling separated by the investor's type as of March 9, 2020.
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– SET closed at 1,255.94 points, plunged 108.63 points or 7.96% with a trading value of 103.6 billion baht. The analyst stated that global markets dropped around 4-7% as fears over price war between the three biggest oil producers: the USA, Saudi Arabia and Russia. The European markets were even worse than Asia stock markets with a plummet around 6-7% while FTSE MIB fell more than 12%.
Global markets were already weakened from the effect of coronavirus and the negative factors regarding oil prices had made the situation even worse which triggered a selloff, especially in the energy sector. In Thailand, three of PTT Public Company Limited (PTT), state-owned oil and gas company, including PTTEP, PTTGC and PTT were ranked as 2nd, 3rd and 4th losers, respectively with a plummet of 29.81%, 26.63%, and 25.33%, respectively.
The analyst set a support level at 1,230-1,220 points and a resistance level at 1,280 points.
– Amid market plummet, Local Institutions made a net sell of 12.7 billion baht along with a 4 billion baht selloff from Foreign Investors, dragging SET Index to plunge by 108 points.