On Friday, TISCO Securities expects the Thai market to exhibit downward movement along with the global markets trend due to concerns over tensions in the Middle East, as the situation between the U.S. and Iran remain ambiguous.
Meanwhile, as oil prices surged by more than 8%, market participants have raised concerns over the impact on the economy. Additionally, foreign investors have begun to sell their stakes in Thai equities yesterday.
Kingsford Securities anticipates the SET Index to move within the F/PE baseline at 14.7 – 15.2 times, recommending investors to closely monitor the Middle East situation, as if the conflicts last longer than two weeks, it may potentially become an additional downside toward the Thai market
The analyst house recommends investors speculate on PTTEP, BANPU, and BCP, as these stocks benefited from rising crude prices.
Both securities firms set a resistance level for the SET Index at 1,430 points and a support level at 1,380 points for today’s session.
Yesterday, Thailand’s SET Index closed at 1,417.29 points, increased 32.68 points or 2.36%, with a trading value of THB 106.58 billion.
