The Thai stock market shed 0.27 percent on Thursday after late buying in banking stocks offset earlier profit-taking, analyst said. The Stock Exchange of Thailand (SET) composite index was off 1.98 points to close at 728.54 while the blue chip SET-50 index lost 1.51 points to 519.96.
Losers led gainers 214 to 145 and 115 stocks were unchanged amid active trading with turnover of 7.5 billion shares worth 30.7 billion baht (915.1 million dollars). The Thai baht hovered against the dollar to close at 33.55-56 baht to one dollar compared to Wednesday's close at 33.53-54.
But it gained slightly against the euro to close 49.46-48 baht to one euro compared to the previous day's close of 49.55-60. "The index fell to 722 before buying in the banking sector boosted the market in the afternoon session," said Mayuree Chowikran, an analyst at Kim Eng Securities (Thailand). Banking outperformed the rest of the market as its sectoral index rose 1.42 percent.
Bangkok Bank rose 2.50 baht to close at 121.00 and Kasikornbank gained 2.00 baht to 81.75, while Siam Commercial Bank added 1.25 to 84.75 baht. Banpu dropped 4.00 to 450.00 baht, PTT Plc shed 3.00 baht to 265.00 and its subsidiary PTT Exploration and Production fell 2.50 baht to 147.50 baht. Siam Cement dropped 3.00 baht to 233.00.