On Monday, TISCO Securities expected the Thai market to surge after the Bhumjaithai Party secured a landslide victory in the general election, positioning itself as the leading party in the formation of a new government. This created an image of a stable and politically continuous administration, which may lead to fund inflows into the Thai equity market.
The securities firms set a resistance level for the SET Index at 1,380-1,400 points and a support level at 1,330-1,350 points for today’s session.
Kingsford Securities set a support level for the SET Index at 1,350 and a resistance level at 1,380 – 1,400, forecasting the Thai market to rise after the election, which may lead to the formation of a new government with as much as 300 MPs’ support.
The securities house recommends accumulating ADVANC, GULF, PTT, SCC, BH, and CPALL, as these stocks poised to benefit from foreign fund inflows, as well as stocks that may benefit from economic stimulus measures such as CPAXT, BJC, CRC, MTC, TIDLOR, AMATA, WHA, and STECON.
Last Friday, Thailand’s SET Index closed at 1,354.01 points, increased 7.78 points or 0.58%, with a trading value of THB 47.47 billion.
