On Wednesday, Pi Securities disclosed that the Thai market may potentially consolidate as the U.S. inflation figures came out higher than expected, which pressured the Federal Reserve’s interest rate policy direction and the market sentiment.
The securities firms set a resistance level for the SET Index at 1,490 points and a support level at 1,470 points for today’s session.
Daol Securities stated that the Thai market remains in a consolidatory period, expecting movements within the 1,450 – 1,470 range.
Meanwhile, the MSCI Index will announce its revision results, with no Thai equity changing position in the MSCI Standard Index, while MSCI Global Small Cap sees the inclusion of MRDIYT and TFG, and the removal of TOA.
Nevertheless, investors are recommended to monitor the effect of the Free Float calculation adjustment, especially in DELTA. Should the stock receive a weighting upgrade, this may support buying forces from passive funds in the short term.
Yesterday, Thailand’s SET Index closed at 1,483.56 points, decreased 5.73 points or 0.38%, with a trading value of THB 55.54 billion.
