SET surges 2.05 per cent

  The SET index started a day with a gain and headed further north to the day's height at 793.08 before weakening marginally to close the market at 792.71. Turnover was moderate at Bt24.19 billion. Foreign investors were the net buyers of Thai shares in the tune of Bt2.54 billion.

 Big market cap stocks were the large gainers led by bank and energy stocks. PTT Plc (PTT) chalked up 2.96 per cent at Bt278, Bank of Ayudhya (BAY) was up 5.69 per cent at Bt26, Bangkok Bank (BBL) jumped up 2.56 per cent at Bt120, Kasikornbank (KBANK) surged 3.38 per cent at Bt76.50, marking the 7year high; and Siam Commercial Bank (SCB) was up 2.74 per cent at Bt75.

 KGI Securities (Thailand) Plc's vice president economics and strategy Adisak Kammool said that the euphoria was attributable to foreign investors' buying spree in the regional stock markets including Thailand, Indonesia and South Korea.

 Local investors also jumped on bandwagon to pile up Thai shares as their confidence has been increased after the protest has been done in peaceful way and the Bank of Thailand's data showed Thai economy is on recovery path, he said.

  The central bank said that Thai economy in the second quarter has sent a stronger signal of recovery due to a pickup in domestic demand and higherthanexpected export growth.

 The next resistance is at 795.

Siriporn  Chanjindamanee