On Thursday, Asia Plus Securities expects the Thai market to rebound along with the global markets trend after having sharply declined. Additionally, continued foreign capital inflows also buoys the market amid Middle-Eastern conflicts, which showed no sign of ending and may cause volatility in the market.
The securities firms set a resistance level for the SET Index at 1,430-1,440 points and a support level at 1,370-1,380 points for today’s session.
Kingsford Securities set a resistance level for the SET Index at 1,400 – 1,430 points and a support level at 1,380 points for today’s session, forecasting the Thai market to potentially rebound based on the F/PE baseline of 15.0 – 15.2 times after the risk of crude prices surpassing $100 per barrel has subsided. Furthermore, the analyst firm is assessing the situation in the Middle East.
The brokerage house recommends “Buy” on stocks with the high dividend theme that have declined such as ADVANC, KBANK ,SCB ,KTB, GULF, TFG, SIRI, and JMT, as well as accumulating DELTA, which is a high beta stock.
Yesterday, Thailand’s SET Index closed at 1,384.61 points, decreased 81.90 points or 5.58%, with a trading value of THB 159.37 billion.
