On Friday, Asia Plus Securities expects the Thai market to move sideways or sideways-up, due to the positive sentiment from the U.S.-Iran peace talk in Islamabad this Saturday.
However, the brokerage firm warns investors of selling pressures, as market participants may seek to reduce risk ahead of the Songkran holiday, which may potentially cause market volatility.
The securities firms set a resistance level for the SET Index at 1,500 points and a support level at 1,470 points for today’s session.
Kingsford Securities set a resistance level for the SET Index at 1,500 points and a support level at 1,470 – 1,480 points for today’s session, forecasting the Thai market to potentially stabilize as investors await the U.S.-Iran peace talk result tomorrow.
The analyst house recommends investors accumulate stocks in the retail sector including CPALL, CPAXT, TNP, CPN, OSP, CBG, and ICHI when the SET Index has declined, as these stocks may potentially benefit from the government stimulus measures. The recommendation was also given to stocks that may benefit from investment incentive measures such as ADVANC, TRUE, GULF, GPSC, STECON, CK, AMATA, and WHA.
Yesterday, Thailand’s SET Index closed at 1,489.66 points, increased 4.63 points or 0.31%, with a trading value of THB 63.41 billion.
