Mr. Weerawat Wirojphoka, Senior Director of FSS International Investment Advisory Securities (FSSIA), stated that the Stock Exchange of Thailand (SET) Index closed the morning session higher by 1.53%, or 21.20 points, at 1,404.17 points, rebounding in line with the regional stock markets. Although the index surged quite strongly at the opening, there were still periods of decline.
He assessed that the SET Index exhibited a subtle recovery, mainly due to pressure from the volatility of global crude oil prices. Even though oil prices had dropped below $100 per barrel, there remained spurts above $90, causing the market to fluctuate. Meanwhile, the index was supported mainly by the upward adjustment of DELTA in the morning session.
For the investment outlook in the afternoon, it is forecasted that the Thai stock market will be able to continue trading in positive territory, provided that there are no new negative news exerting additional pressure, and global oil prices do not rebound sharply. The analyst recommends that investors closely monitor oil prices and developments in the Middle East.
As for domestic factors, attention should be given to political issues, with a parliamentary session expected to commence on March 14. The index’s trading range is assessed, with the support level forecast at 1,385-1,400 points and the resistance level at 1,410-1,420 points.
The top five securities by trading value in the morning session are as follows:
- Delta Electronics (Thailand) PCL (SET: DELTA): Trading value THB 2.77 billion, closed at THB 254.00 per share, up THB 9.00 or 3.67%.
- Kasikornbank PCL (SET: KBANK): Trading value of THB 2.41 billion, closed at THB 188.00 per share, up THB 3.50 or 1.90%.
- PTT Exploration and Production PCL (SET: PTTEP): Trading value THB 2.24 billion, closed at THB 139.00 per share, down THB 5.00 or 3.47%.
- Gulf Development PCL (SET: GULF): Trading value THB 1.65 billion, closed at THB 56.50 per share, up THB 2.00 or 3.67%.
- Bangkok Dusit Medical Services PCL (SET: BDMS): Trading value THB 1.57 billion, closed at THB 18.70 per share, down THB 0.50 or 2.60%.
