Mr. Pobchai Phatrawit, Equity and Digital Asset Strategist at InnovestX Securities, stated on the ‘Kaohoon’ program on June 8, 2026, that the overall outlook for the Thai stock market tends to decline in line with regional markets, after most Asian markets faced selling pressure due to renewed concerns over tensions in the Middle East, as well as higher oil prices.
Although the market may initially decline due to these pressures, there are signs of partial recovery in foreign futures markets after investors assessed that some negative factors may have already been reflected in stock prices.
Meanwhile, OPEC+ has decided to continue increasing production for the fourth consecutive month, raising output by about 190,000 barrels, which should help ease supply concerns to some extent and limit further rises in oil prices in the near term.
Mr. Pobchai set the initial support level for the SET Index at 1,565 points, with the next support level at 1,560 points, while the resistance level was given at 1,575-1,580 points. The index is expected to weaken in the early session, before some intraday recovery.
For weekly outlook, the analyst forecasted that the Thai bourse may potentially consolidate with a sideways-down pattern, while upside were limited due to pressure from the electronics sector, which may also consolidate along with U.S. tech stocks after the previous rallies. There is also a possibility of sector rotation from the technology stocks to defensive and value stocks.
For DELTA, its share price has surged strongly since the beginning of the year, rising from around THB 180 to over THB 300. The stock has maintained its elevated valuation, with a historical P/E ratio of over 100 times and forward P/E of around 80 times, which is considered tight and more expensive than its Taiwanese parent and many technology equities abroad.
Therefore, although DELTA’s share price has started to correct, the current level is still considered premium. For investors seeking to speculate the stock in the short term, the analyst recommends waiting for a pullback to the THB 320-300 range, which would offer a more attractive entry point.
For short-term investment strategies, Mr. Pobchai recommended speculative buying in stocks that benefit from higher oil prices, such as upstream energy companies like PTTEP, as well as refineries and petrochemical groups such as TOP and BCP.
Meanwhile, if oil prices begin to ease in the next period, stocks that are pressured by oil costs, such as airlines and airports, including THAI and AOT, may become more interesting for accumulation.
For Defensive stocks with resilience to volatility and inflationary pressure, the recommended groups are telecommunications such as ADVANC, retail such as CPAXT, and power plants such as GULF.
