Local Institutions Push SET Index 11.50pts Higher with a THB2.4 Billion of Net Buy
The total value of buying and selling separated by the investor's type as of July 22, 2021.
– SET Index closed at 1,552.36 points, increased 11.48 points or 0.74% with a trading value of 69.4 billion baht. The analyst stated that the surge in SET Index was due to a buying pressure in the banking sector after 2Q21 earnings of the banks were 5-10% better than forecast. However, the analyst remained cautious on the banking sector, while awaiting to see the government’s measures on the lockdown amid rising Covid-19 cases.
The analyst recommended power plant-related stocks such as BCPG and YGG that are considered safe to invest and stocks that will benefit from the reopening such as MINT. Meanwhile, the analyst also advised to wait for Thai exports data tomorrow that is expected to expand 35-38%.
In addition, the analyst estimated that the Thai stock market will move between 1,545-1,555 points.
– Local Institutions purchased more than 2,400 million baht of Thai shares, pushing the Thai stock market to close 11.50pts higher.
