– SET closed at 1,255.94 points, plunged 108.63 points or 7.96% with a trading value of 103.6 billion baht. The analyst stated that global markets dropped around 4-7% as fears over price war between the three biggest oil producers: the USA, Saudi Arabia and Russia. The European markets were even worse than Asia stock markets with a plummet around 6-7% while FTSE MIB fell more than 12%.
Global markets were already weakened from the effect of coronavirus and the negative factors regarding oil prices had made the situation even worse which triggered a selloff, especially in the energy sector. In Thailand, three of PTT Public Company Limited (PTT), state-owned oil and gas company, including PTTEP, PTTGC and PTT were ranked as 2nd, 3rd and 4th losers, respectively with a plummet of 29.81%, 26.63%, and 25.33%, respectively.
The analyst set a support level at 1,230-1,220 points and a resistance level at 1,280 points.
– Amid market plummet, Local Institutions made a net sell of 12.7 billion baht along with a 4 billion baht selloff from Foreign Investors, dragging SET Index to plunge by 108 points.