On Friday, Krungthai XSpring expects the Thai market to trade sideways-up due to confidence in the government stability, which anticipated to announce economic stimulus measures to support the recovery of the Thai economy. Additionally, satisfying listed companies’ results and dividend payment announcement has also bolstered fund inflows.
The securities firms set a resistance level for the SET Index at 1,500-1,505 points and a support level at 1,465-1,470 points for today’s session.
Kingsford Securities set a support level for the SET Index at 1,470 –1,480 and a resistance level at 1,507 –1,515, forecasting the Thai market to be buoyed by foreign fund inflows. The brokerage firm projects a positive sentiment on the recovery of the Thai economy, but also warns of tightening upside after the SET Index is trading at 14.9x F/PE.
The analyst firm recommends speculative buy PTT, PTTEP, BCP, TOP, and IRPC, which benefited from 2% increase in WTI crude prices yesterday after the U.S. and Iran halted nuclear talks, while accumulating stocks in value theme such as CRC, HMPRO, CHG, SIRI, AP, SPALI, and GPSC.
Yesterday, Thailand’s SET Index closed at 1,493.91 points, increased 27.24 points or 1.86%, with a trading value of THB 94.76 billion.
