On Monday, TISCO Securities expects the Thai market to move sideways or sideways-down, recommending investors closely monitor the Middle East situation, after Israel’s attack on Lebanon threatened to stall the U.S.-Iran peace talks, and led to the closure of the Strait of Hormuz.
Domestically, the analyst recommends investors closely monitor the Monetary Policy (MPC) meeting this Wednesday—which anticipated to maintain the policy rate, as well as the export figures later this week
The securities firm set a resistance level for the SET Index at 1,595 points and a support level at 1,575 points, with the next level at 1,560 points for today’s session.
Daol Securities stated that, excluding DELTA’s volatility, the SET Index may potentially move sideways as investors await new catalysts, while the U.S.-Iran peace talks started on a turbulent ground.
For today, the analyst estimated the Thai bourse to move within a range of 1550 – 1590 points.
For strategy, the brokerage house recommends stocks that have sharply declined such as BGRIM, BA, CENTEL, HMPRO, CPALL, CRC, and SCC. For the banking sector, investors should monitor the MPC meeting results.
Last Friday, Thailand’s SET Index closed at 1,572.50 points, decreased 12.56 points or 0.79%, with a trading value of THB 68.93 billion.
