On Wednesday, Krungthai Xpring Securities expects the Thai market to move sideways without new significant supporting factors. However, the Thai market still has supporting factors from the election rally and the recovering investment climate, as investors have opened up toward risk taking. In addition, the buying force in stocks with high dividend yield also helped buoy the market.
The securities firm set a resistance level for the SET Index at 1,280 points, and a support level at 1,260 points for today’s session.
Kingsford Securities stated that the SET Index today is set to trade within a supporting level of 1,260-1,270 points and a resistance level of 1,280-1,290 points. The brokerage firm expects the SET Index to stabilize along with the regional trend, and due to the ongoing campaigns for February election.
The analyst firm recommends accumulating stocks in safe haven and high-dividend themes such as ADVANC, SCB, TTB, AP, LH , 3BBIF, and DIF, as well as power plant stocks including GULF and GSPC, which benefited from the declining gas price. Furthermore, the broker also recommends speculative buying MEGA, GLOBAL, and PTG, as these stocks showed technically positive signs.
Yesterday, Thailand’s SET Index closed at 1,274.75 points, decreased 5.30 points or 0.41%, with a trading value of THB 37.48 billion.
