On Friday, Maybank Securities expects the Thai market to rebound due to positive sentiments in foreign markets after the geopolitical tension has subsided. Furthermore, the analyst also anticipates recovery in ICT stocks after TRUE plunged yesterday from panic sell.
The securities firm set a resistance level for the SET Index at 1,320 points, and a support level at 1,300 points for today’s session.
Kingsford Securities anticipated the SET Index to move with a supporting level of 1,300 points, and a resistance level of 1,320 – 1,330 points. The brokerage estimates that the index will receive tailwinds from foreign fund inflows accumulating big-cap stocks in petrochemical, power plant, retail, hospital, and real estate sectors, which are trading at below-average P/E ratio.
The securities house recommends accumulating ADVANC, CPALL, CPN, GULF, BDMS, LH, and SPALI.
Yesterday, Thailand’s SET Index closed at 1,311.64 points, decreased 5.92 points or 0.45%, with a trading value of THB 72.72 billion.
