On Tuesday at 11:39 AM (Bangkok time), the share price of B.Grimm Power Public Company Limited (SET: BGRIM) added 2.84% or THB 0.40 to THB 14.50, with a trading value of THB 110.08 million.
Gulf Development Public Company Limited (SET: GULF) jumped by 3.01% or THB 1.25 to THB 42.75, with a trading value of THB 691.19 million.
Global Power Synergy Public Company Limited (SET: GPSC) surged by 3.50% or THB 1.25 to THB 37.00, with a trading value of THB 159.85 million.
Krungsri Securities (KSS) stated that the rise in powerplant stocks was supported by the Thai baht appreciating to around 31.3 per US dollar and a 2.6% drop in NYMEX natural gas prices, with expectations of further decreases amid continued oversupply.
The firm anticipates that power plant equities will remain key targets for fund inflows under the infrastructure technology investment theme, pointing to Thailand’s standout potential in the electricity sector.
In the global backdrop, the yield on 10-year U.S. government bonds dipped by 3 basis points as U.S. manufacturing data softened. Market participants are closely monitoring upcoming U.S. labor reports, due January 7, with further signs of labor market weakness likely to reinforce expectations for lower interest rates.
This environment has contributed to sustained downward pressure on U.S. bond yields while keeping the dollar trading around the 98 mark, boosting the Thai baht.
Looking ahead, Krungsri expects the positive momentum for power plant shares to continue through the rest of the week. On a fundamental basis, the brokerage recommends a ‘Buy’ for GULF (target price THB 59 for 2026) and BGRIM (target price THB 19 for 2026).
