On Tuesday, TISCO Securities expects the Thai market to slump along with the global markets’ trend, as the prolonged Middle East war raised WTI crude to beyond $100 per barrel, while Thailand’s Fuel Fund Executive Committee lifted diesel prices by THB 1.80 per liter, pressuring domestic purchasing power.
Additionally, the securities firm cautions investors about volatility from DELTA due to the 10% cap weight rebalance.
Meanwhile, the Federal Reserve Chair adopted the wait and see stance on the oil-driven inflation outlook.
The securities firms set a resistance level for the SET Index at 1,460 points and a support level at 1,430 points for today’s session.
Kingsford Securities set a resistance level for the SET Index at 1,460 points and a support level at 1,430 – 1,440 points for today’s session, forecasting the Thai market to stabilize as market participants assessing the situation in the Middle East, while also being pressured by the surging energy costs.
The brokerage house recommends investors speculates on traditional energy sector such as PTTEP and BANPU, alternative energy including GUNKUL, TSE, BBGI, PCE, and VPO, as well as food sector such as CPF, TFG, BTG, and TVO.
Yesterday, Thailand’s SET Index closed at 1,449.62 points, increased 2.57 points or 0.18%, with a trading value of THB 57.70 billion.
