Thai Stock Market Roundup on November 6, 2020

A short summary to inform investors of what had happened in the Thai stock market on November 6, 2020.

SET Index closed at 1,260.08 points, decreased 4.24 points or 0.34% with a trading value of 73.5 billion baht. The analyst stated that the Thai stock market was fluctuating after a huge leap yesterday in response to Joe Biden taking the lead.

The index was able to break the 1,264 resistance level, thus, investors made a profit taking in today’s session. The retreat was not concerning as the closing level was within the support level. As long as the index does not fall below 1,235 points, the market would continue to recover.
The analyst expected next week’s session to be more fluctuating and it would be a good opportunity to accumulate, giving a support level at 1,250-1,240 points and a resistance level at 1,264-1,280 points.

– Local Institutions switched to a selloff on the last trading day of the week, booking 2.1 billion baht on Friday.

Fed maintained policy rate at 0-0.25%. The Fed commented that it will not raise interest rates until they are employed to the fullest potential and inflation rises 2% above the target level.

Dow Futures and European stocks dropped as election results unclear and coronavirus death toll spikes.

CPF became the first Thai company to receive ISO 56002 for innovation management standards.

SINGER’s 3Q profit soared 265% to ฿117Mn from higher sales and service revenues.

GULF and BGRIM edged higher, expecting Biden’s clean-energy campaign to support energy stocks.

PTT appointed “Worawat” as GPSC’s CEO and “Chawalit” as IRPC’s president.

TASCO’s 3Q profit jumped 162% to ฿1.86Bn after reaching record-high domestic sales

– Stocks in Focus on November 6, 2020: CBG (Krungsri Securities TP at ฿145.00/share) and TACC (KGI Securities TP at ฿8.00/share).

 

Top 10 Most Impact Shares on November 6, 2020

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