Thai stocks closed 0.02 points lower, lacking new supportive factors. Receiving pressure from retail banking group but energy group helping to support it: InfoQuest

The stock market closed today at 1,379.46 points, down 0.02 points (0.00%), with a trading value of 38,240.09 million baht. Which shows that the Thai stock market is swinging sideways today, lacking new factors to support it, with pressure from two groups of sellers, namely the retail group, which is concerned about high competition. The Bank Group expects next week's Monetary Policy Committee to cut interest rates, but there are still shares in the energy group positive, as they receive higher oil prices, which helps support the market to some extent. Tomorrow's trend expects the market to swing sideways. Waiting to follow up on US employment numbers. On Friday, the Thai inflation support level was 1,373 points and the resistance level was 1,385 points.

The stock market closed today at 1,379.46 points, down 0.02 points (0.00%), with a trading value of 38,240.09 million baht.

Trading stocks today, the Sideways Swing Index recorded its lowest point at 1374.77 points, and the highest point at 1382.01 points.

As for securities, the changes today increased by 207 securities, decreased by 246 securities, and remained unchanged by 204 securities.

Mr. Natavon Khamtakroya, Director of Securities Analysis, Yuanta Securities (Thailand) He stated that today's Thai stock market is swinging sideways, lacking new supporting factors. There was selling pressure from two groups of stocks: retail stocks such as CPALL and CPAXT, which fell on fears of increased competition. The banking group expects that the Monetary Policy Committee will cut interest rates at its meeting next week. This has a negative impact on commercial banks' interest rate spreads.

However, there is still purchasing power in the energy sector as oil prices rise, which helps keep the market stable. There was also a positive factor with the release of the Purchasing Managers' Index (PMI) for the manufacturing sectors in China, the United States and Europe, which came in better than expected. In addition, trading volume increased today from yesterday. Although the indicator did not go anywhere. But it reflects a return of confidence.

Tomorrow's trend expects the index to swing sideways. Investors are awaiting the release of non-farm employment numbers for March. Inflation figures for the United States and Thailand will be announced on Friday. The support level is 1,373 points and the resistance level is 1,385 points.

The securities with the highest trading value are 5 securities

PTTEP's trading value reached 2,030.15 million baht, closing at 155.00 baht, an increase of 4.00 baht.

KTB's turnover reached 1,813.83 million baht, closing at 16.60 baht, down 0.30 baht.

KBANK's turnover reached 1,795.46 million baht, closing at 122.50 baht, down 1.50 baht.

CPALL had a trading value of 1,617.39 million baht, closing at 54.00 baht, down 0.50 baht.

CRC's trading value reached 1,209.30 million baht, closing at 34.75 baht, down 0.50 baht.

By InfoQuest News Agency (02 April 2024)

Tags: Natthaphon Khamthakruea, Thai stocks

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