Mr. Kitpon Praipaisarnkit, Senior Executive Vice President at UOB Kay Hian Securities (Thailand), stated that the Stock Exchange of Thailand (SET) Index closed the morning session lower by 0.22%, or 2.84 points, to 1,277.21 points, following profit-taking in large-cap stocks that surged strongly yesterday. DELTA and AOT collectively weighed on the index by approximately 6 points.
AOT’s share price declined despite a positive factor from the increase in the Passenger Service Charge (PSC), but short-term upside is limited and the price has become constrained, prompting profit-taking.
However, other sectors did not see significant declines. This morning, the market focused on dividend themes, such as refineries and power plant stocks, which are considered safe-haven stocks and provide a dividend yield of not less than 4%.
Overall, the market is still waiting for new drivers. Going forward, it is advised to monitor economic data, as momentum in the first half of 2026 may slow due to a high base last year.
Additionally, the dissolution of parliament has halted many policies and removed a key driver, putting pressure on domestically oriented stocks, while stocks tied to international trends perform better.
It is also necessary to monitor crude oil price movements. In the long term, the market is concerned oil prices will decline due to increased production. However, oil prices are expected to remain stable, thus limiting downside and supporting earnings and expected dividends. As a result, the energy sector may continue to perform well.
For the afternoon session, the SET Index is expected to move within a range, with resistance at 1,286 points and support at 1,264 points.
The top five securities by trading value in the morning session are as follows:
- Delta Electronics (Thailand) PCL (SET: DELTA): Trading value THB 2.07 billion, closed at THB 184.00 per share, down THB 1.50 or 0.81%.
- Airports of Thailand PCL (SET: AOT): Trading value THB 2.05 billion, closed at THB 51.25 per share, down THB 3.25 or 5.96%.
- SCB X PCL (SET: SCB): Trading value THB 1.25 billion, closed at THB 140.50 per share, down THB 1.50 or 1.06%.
- Advanced Info Service PCL (SET: ADVANC): Trading value THB 1.22 billion, closed at THB 322.00 per share, up THB 1.00 or 0.31%.
- Thai Oil PCL (SET: TOP): Trading value THB 968.55 million, closed at THB 39.00 per share, up THB 1.75 or 4.70%.
