Mr. Kitpon Praipaisarnkit, Senior Executive Vice President at UOB Kay Hian Securities (Thailand), stated that the Stock Exchange of Thailand (SET) Index closed lower this morning by 0.37%, or 4.77 points, to 1,271.80 points due to profit-taking activities.
The market moved against the regional trend after a strong rally yesterday, driven by news of the Individual Saving Account (ISA) measure to be proposed to the Cabinet. With no further progress, profit-taking has occurred.
This morning, bank stocks led the market with strong gains, attributed to expectations for economic growth momentum and further improvement from government stimulus measures at the end of the year. Additionally, the previous interest rate cut has provided benefits, making it likely that the Monetary Policy Committee (MPC) may not cut the policy rate in the upcoming meeting.
The analyst expects the index to move within a range in the afternoon session, giving a support level at 1,265 points and a resistance level at 1,285 points.
The top five securities by trading value in the morning session are as follows:
- Krungthai Bank PCL (SET: KTB): Trading value THB 1.28 billion, closed at THB 28.75 per share, up THB 1.00.
- Kasikornbank PCL (SET: KBANK): Trading value THB 1.27 billion, closed at THB 191.00 per share, up THB 2.00.
- Bangkok Bank PCL (SET: BBL): Trading value THB 1.22 billion, closed at THB 161.50 per share, up THB 2.00.
- SCB X PCL (SET: SCB): Trading value THB 918.38 million, closed at THB 132.00 per share, up THB 1.50.
- PTT PCL (SET: PTT): Trading value THB 906.89 million, closed at THB 31.50 per share, up THB 0.25.
