On Monday, Tisco Securities expects the Thai market to move sideways, relatively flat due to political pressures, including a large group of protesters against the Prime Minister calling for her resignation, which are likely to escalate, and the consideration of the PM governing qualification by the Constitutional Court of Thailand.
Meanwhile, on July 1, the Stock Exchange of Thailand will implement 10% Capped Weight on SET50/SET100 Index. As such, the securities firm expects DELTA, which has 13% Market Cap in SET50, to see an outflow of around THB 1,270 million to meet with the new cap, which could become a headwind factor for the Thai market.
The firm set a resistance level for the SET Index at 1,100-1,110 points and a support level at 1,075 points for today’s session.
Last Friday, Thailand’s SET Index closed at 1,082.42 points, decreased 24.31 points or 2.20% with a trading value of THB 38.59 billion.
