Foreigners and Institutions Buoy SET with a ฿3.9Bn of Net Buy despite Rising Covid Cases

A short summary to inform investors of what had happened in the Thai stock market on January 4, 2021.

SET Index closed at 1,468.24 points, increased 18.89 points or 1.30% with a trading value of 89 billion baht. The analyst stated that the Thai stock market dropped in the morning session due to concerns of the rising coronavirus cases domestically. However, the index rebounded in the afternoon session after the Thai Prime Minister affirmed that there will be no full-scale lockdown, which lowered investors’ concerns of diminishing economic activities.

The baht appreciation also supported Global-Play stocks, while the oil prices remained at a higher level. In addition, the analyst suggested investors to monitor the development of the coronavirus outbreak in Thailand closely for further government measures, giving a support level at 1,450 points and a resistance level at 1,480 points.

– Foreign Investors and Local Institutions combined a net buy nearly 4,000 million baht to buoy SET Index on the first trading day of 2021 despite rising coronavirus cases.