SET Index Eyes Gains on Election Optimism, Analyst Predicts Volatility Ahead

Mr. Suchet Suktae, Deputy Managing Director, Media Marketing Department of ASL Securities, during the “Kaohoon” program on February 3, 2026, expects today’s support and resistance levels for the Stock Exchange of Thailand (SET) Index to be 1,320/1,308 points and 1,331-1,345 points, respectively.

ASL Securities has also estimated support and resistance levels for specific stocks. The details are as follows:

  • Global Power Synergy PCL (SET: GPSC): THB 34.25 – 33.75 per share and THB 36.25/37.75 per share for its support and resistance levels.
  • Berli Jucker PCL (SET: BJC): THB 14.30/13.80 and THB 14.70/15.70.
  • The Siam Cement PCL (SET: SCC): THB 201 – 200 and THB 205/210.
  • MR. D.I.Y. Holding (Thailand) PCL (SET: MRDIYT): THB 8.50 – 8.45/8.10 and THB 9.00/9.60.
  • PTG Energy PCL (SET: PTG): THB 7.40 – 7.35 and THB 8/8.50/9.

Regarding BJC’s announcement to acquire MM Mega Market Vietnam (MMVN), Mr. Suchet noted that several businesses have already entered this market, resulting in intense competition. As such, the analyst expects a slow start for BJC while the company is likely to exhibit a solid performance in the medium term.

Mr. Suchet also noted volatility in the financial sector. He stated that if the U.S. interest rates enter an easing cycle, Srisawad Corporation PCL (SET: SAWAD) is likely to lead gains as its share price remains at a low level. As for Muangthai Capital PCL (SET: MTC), the stock can still maintain its upward momentum.

Regarding the election, Mr. Suchet stated that the SET Index is likely to trend upward during the first six months after the election, supported by positive sentiment and capital inflows. Thereafter, the index may begin to fluctuate as the market shifts its focus to the professionalism and credibility of government officials, particularly those at the Ministry of Finance and the Ministry of Commerce, as Thailand’s trade environment with foreign countries is expected to improve in 2027.