On Friday, TISCO Securities expects the Thai market to trade sideways within narrow range after having surged in contrast with international market trends yesterday. This was due to pressures from rebounding oil prices, which raised concerns over the global economy.
However, there is a domestic positive factor from the clarity on the timeline for the formation of the new government.
The securities firms set the resistance level for the SET Index at 1,430 points and 1,460-1,470 points. A support level is given at 1,395 points for today’s session.
Daol Securities disclosed that the Thai market remained volatile due to the war, while the statement from Iran’s Supreme Leader yesterday has become a negative factor for equities markets.
However, domestic positive factors began to outweigh the negative, following the announcement of the opening of the parliament session on March 14, as well as the prospect of the earlier-than-expected formation of the government, which may potentially bolster investors confidence.
The analyst house recommends investors closely monitor the emergency meeting between the government and refinery firms following the surge in refining cost, and the end of the diesel price control measures on March 17.
Yesterday, Thailand’s SET Index closed at 1,429.8 points, increased 22.46 points or 1.60%, with a trading value of THB 64.49 billion.
