Local Institutions Drop SET Index by 4pts with a THB1.9 Billion of Net Sell

The total value of buying and selling separated by the investor's type as of August 13, 2021.

SET Index closed at 1,528.32 points, decreased 4.39 points or 0.29% with a trading value of 82 billion baht. The analyst stated that the profit-taking in medical and hospital stocks weighed the Thai market down as the outlook in 3Q showed potential growth, but could slow down in 2022.

The analyst stated that the 2Q21 earnings season will end on August 17, and investors would look ahead to results in 3Q that could receive an impact from the Covid-19 outbreak. However, the analyst expected the energy, sea freight and petrochemical stocks to remain positive. Even though the recovery in consumer spending is still unclear for the second half of 2021, overseas factors would be the main driver, while having an inexpensive valuation, 2H21 net profit could slowdown.

In addition, the analyst stated that SET Index could slow down after the earnings season, recommending investors to monitor the announcement of Thailand’s 2Q GDP, while giving a support level for next week at 1,480-1,500 points and a resistance level at 1,535-1,550 points.

– Local Institutions net sold 1,956 million baht of Thai shares to drop SET Index by 4 points.



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