What Happens to Power Generation Stocks? Nothing Much ..… Just a Profit Taking

The big movers in the market today were power generation stocks such as BPCG, GULF and GPSC. The analyst said that today plummet is a profit taking.

SET Index plunged 22 points in the afternoon session of July 4, 2019, lower than most major Asia markets after closing 4.5 points higher in the morning. The big movers in the market today were stocks involving in power plant business such as BCPG Public Company Limited (BPCG), Gulf Energy Development Public Company Limited (GULF) and Global Power Synergy Public Company Limited (GPSC).

The index closed at 1,724.37 points, sank 14.14 points or 0.81% with a trading value of THB 88.8 billion.

Phillip Securities states that the plummet might be due to a correction after the aforementioned stocks had been hiking recently, believing the selloff was from institutions. Phillip Securities says that a profit taking could occur anytime after the Thai market rises to a certain point.

 

BCPG closed at 19.20/share, fell 1.80/share or 8.57%. The highest price of the day was 21.50/share and the lowest was 19.00/share with a trading value of THB 3.06 billion.

GULF closed at 125.50/share, fell 5.50/share or 4.28%. The highest price of the day was 133.00/share and the lowest was 118.50/share with a trading value of THB 4.8 billion.

GPSC closed at 69.25/share, fell 2.50/share or 3.48%. The highest price of the day was 74.00/share and the lowest was 66.00/share with a trading value of THB 4.2 billion.

 

Plummet Power Generation Stocks on July 4, 2019