Brokers project slightly negative outlooks for the Thai stock market on Thursday as renewed concerns over escalating conflict in the Middle East have sent oil prices sharply higher. Meanwhile, investors continue to monitor 2Q26 corporate earnings reports, with the banking sector facing short-term pressure from profit-takings.
Krungthai XSpring Securities expects the Thai benchmark to be influenced by negative sentiment resulting from intensified geopolitical tensions in the Middle East. This has led to a significant rise in oil prices, which, in turn, has stoked renewed fears regarding inflation and the possibility of faster interest rate hikes.
However, the securities firm noted some support may come from purchasing activity in energy stocks, which stand to benefit from rising crude prices.
The analyst set a resistance level for the SET Index at 1,650 points, and a support level at 1,625 points.
Separately, Daol Securities indicated that the Thai bourse could see further downside, as investors continue to take profit in the banking sector following earnings announcements. This selling pressure is expected to briefly affect investment sentiment and could prompt a market consolidation.
The brokerage firm also highlighted that ongoing concerns around corporate earnings—both domestically and overseas—persist, alongside renewed sell-offs in technology shares in foreign markets. Additionally, the growing severity of the Middle East situation remains a risk factor closely monitored by market participants.
Yesterday, Thailand’s SET Index closed at 1,639.34 points, decreased 13.63 points or 0.82%, with a trading value of THB 116.52 billion.
