Mr. Chaiyaporn Nompitakcharoen, Managing Director of Sales & Trading Business at Bualuang Securities, stated that the Stock Exchange of Thailand (SET) Index closed the morning session higher by 1.66%, or 24.39 points, at 1,491.06 points, mainly driven by positive sentiment toward domestic political confidence after the completion of the election.
This reflected the government’s stability and strengthened confidence in the overall Thai economy, which has the potential to recover in a better direction. These factors are key drivers supporting the foreign inflows.
At the same time, the market also received support from the upward movement of oil and refinery stocks today, following the more than 4% increase in crude oil prices. This resulted from geopolitical uncertainties, as peace negotiations between the United States and Iran, as well as between Russia and Ukraine, still remain inconclusive.
Additionally, there has been continued buying interest in other large-cap stocks such as Delta Electronics (Thailand) PCL (SET: DELTA), CP All PCL (SET: CPALL), and Bangkok Dusit Medical Services PCL (SET: BDMS), which have further contributed to supporting the SET index.
For the afternoon session, it is expected that the index will continue to fluctuate in positive territory, with a chance to test the resistance level at 1,500 points, while the support level is estimated at 1,470 points.
The top five securities by trading value are as follows:
- PTT PCL (SET: PTT): Trading value THB 8.44 billion, closed at THB 37.00 per share, up THB 0.75 or 2.07%.
- CP All PCL (SET: CPALL): Trading value THB 3.79 billion, closed at THB 53.75 per share, up THB 1.50 or 2.87%.
- Delta Electronics (Thailand) PCL (SET: DELTA): Trading value THB 3.49 billion, closed at THB 236.00 per share, up THB 12.00 or 5.36%.
- Gulf Development PCL (SET: GULF): Trading value THB 2.42 billion, closed at THB 60.50 per share, up THB 0.75 or 1.26%.
- PTT Exploration and Production PCL (SET: PTTEP): Trading value THB 2.3 billion, closed at THB 138.50 per share, up THB 3.50 or 2.59%.
