Thai Stock Market Roundup on November 24, 2020

A short summary to inform investors of what had happened in the Thai stock market on November 24, 2020.

SET Index closed at 1,401.63 points, decreased 18.80 points or 1.32% with a trading value of 102 billion baht. The analyst estimated that the plummet was due to a profit-taking after the index made a rally over 200 points in November, while there are no major negativity to weigh down the market as of now beside political gatherings, expected to show up at The Crown Property Bureau, to pressure the Thai PM for resignation and monarchy reform.

The analyst advised to monitor the development of tomorrow’s protest, giving a support level at 1,400-1,390 points and a resistance level at 1,435-1,450 points.

– Local Institutions poured over 4 billion baht of Thai shares for profit-taking, while Individuals scooped 3.5 billion baht into the portfolio.

Michigan certified Biden’s win as Trump accepted the transition.

SET announced that Thai listed firms’ total sales and net profits bounced back after lockdown relaxed, jumping 8.6% QoQ and 24.4% QoQ, respectively.

BDMS parted way with BH, announcing a disposal of all shares for ฿18.6Bn.

HMPRO invested 30.40 million baht to expand its retail business in Vietnam.

– Analyst raised CBG’s target price to ฿181 on brighter earnings outlook in 4Q20-2021E.

TASCO stated that the company has sufficient crude for Malaysian refinery until 2Q21 as the company is moving forward to seek a replacement for the Venezuela plant.

– Stocks in Focus on November 24, 2020: KBANK (Maybank Kim Eng TP at ฿120.00/share) and PTG (Kasikorn Securities TP at ฿22.20/share).

 

Top 10 Most Impact Shares on November 24, 2020

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