KGI Securities (Thailand) has released its final predictions for the composition of the SET50 and SET100 indices for the first half of 2026, based on trading data from December 2024 to November 2025.
The brokerage firm anticipates that i-Tail Corporation (SET: ITC) and Srisawad Corporation (SET: SAWAD) are highly likely to be included in the SET50 index at the start of January 2026. Conversely, Bangchak Corporation (SET: BCP) and VGI (SET: VGI) are expected to be removed from the list.
Looking at the SET100 composition, KGI predicts Banpu Power (SET: BPP), CK Power (SET: CKP), PTG Energy (SET: PTG), and GFPT (SET: GFPT) have strong prospects of joining the index beginning next year. The stocks expected to exit the SET100 are Jasmine International (SET: JAS), MBK (SET: MBK), SISB (SET: SISB), and WHA Utilities and Power (SET: WHAUP).
Regarding trading strategies, the analyst notes that ITC may benefit from positive sentiment due to its potential SET50 inclusion and the possible annulment of Trump’s tariffs by the U.S. Supreme Court, which would favor Thai exporters.
For SAWAD, although currently rated ‘Neutral,’ the stock’s recent price pullback presents potential upside, further supported by the government’s flood recovery program, which may improve asset quality, especially in the southern provinces where SAWAD and TIDLOR have significant branch presence.
Meanwhile, GFPT is highlighted as a trading opportunity due to sustained growth in Thai processed chicken exports and recent rebounds in domestic chicken prices, likely supporting the stock during the reshuffle announcement.
PTG is also seen favorably, with expectations of both year-on-year and quarter-on-quarter earnings growth in the fourth quarter of 2025, attributed to the peak domestic tourism season and a rebound in oil marketing margins from November after a weak October.
