Thai Stock Market Roundup on July 31, 2020
A short summary to inform investors of what had happened in the Thai stock market on July 31, 2020.
A short summary to inform investors of what had happened in the Thai stock market on July 31, 2020.
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– SET Index closed at 1,328.53 points, increased 12.79 points or 0.97% with a trading value of 61.2 billion baht. The analyst stated that the Thai stock market moved in a sideways trends close to the crucial support level at 1,300 points, but was able to rebound, buoyed by the big caps, due to the heavy selloff in earlier sessions.
The overall outlook still fluctuated after the Eurozone GDP reported a contraction, but close to the forecast. The market would have a limited upside due to a lack of positive factors.
The analyst suggested investors to monitor the U.S. new stimulus plans as the previous one would expire today. Meanwhile, the Thai Monetary Policy Committee would meet next week for a monetary review.
The support level for next week is 1,300 points and a resistance level is at 1,330-1,340 points.
– Foreign Investors led the buying team with a 1.1 billion baht net buy to buoy SET Index by 12.8 points.
– U.S. economy dropped to a historic low at 32.9% after taking a full-quarter hit from the pandemic.
– The Bank of Thailand stated that the Thai economy improved in June after the gradual relaxation of lockdown measures.
– NOK sought rehabilitation plans as the coronavirus pandemic caused liabilities to reach ฿23Bn. The share price hit the floor in today’s session.
– SICT hit the ceiling for the second day as investors showed a high interest in the tech company.
– The analyst expected BGRIM to hit an all-time high in 2Q, giving a “BUY” recommendation with a target price at ฿62.00/share.
– GLOBAL surged 8.5% in anticipation of a strong 2H20 performance after a lockdown.
– Stocks in Focus on July 31, 2020: TASCO (Krungsri Securities TP at ฿32.00/share) and CK (Maybank Kim Eng TP at ฿24.00/share).
 
Top 10 Most Impact Shares on July 31, 2020
