Power Plant Stocks Rise amid Declining Global Natural Gas Prices

On Friday at 11:19 AM (Bangkok time), the share price of Gulf Energy Development Public Company Limited (SET: GULF) rose by 3.21% or THB 1.25 to THB 40.25, with a trading value of THB 573.56 million.

The share price of B.Grimm Power Public Company Limited (SET: BGRIM) jumped by 6.25% or THB 1.30 to THB 22.10, with a trading value of THB 413.98 million.

The share price of Global Power Synergy Public Company Limited (SET: GPSC) increased by 3.77% or THB 1.50 to THB 41.25, with a trading value of THB 208.82 million.


Krungsri Securities (KSS) reported that NYMEX natural gas prices fell by 5.78% on a daily basis yesterday, closing at US$2.741/MMBtu. Similarly, prices in Europe (Netherlands TTF) declined by 2.75% day-on-day, influenced by a tropical storm in the Gulf of Mexico and reduced demand for natural gas in Europe during the summer season, alongside easing political tensions in the region.

The conditions were advantageous for Thai stocks with ties to the European region, such as XO, SHR, MINT, IVL, and CRC, as well as power plant stocks like GULF, BGRIM, and GPSC.


Yuanta Securities also highlighted that the implementation of the Uptick Rule starting on July 1 would help mitigate negative volatility stemming from short selling in the Thai market. Stocks poised for a potential rebound included GULF, GPSC, SAWAD, SINGER, SGC, BEM, M, IVL, and CPALL.