On Friday, Asia Plus Securities expects the Thai market to trade sideways within range amid volatilities from the prolonged Middle East war. Furthermore, the strike on energy facilities also raised oil and gas prices, which exerted downward pressure on the global market due to risk of stagflation.
The securities firms set a resistance level for the SET Index at 1,430 points and a support level at 1,390 points for today’s session.
Kingsford Securities set a resistance level for the SET Index at 1,420 – 1,430 points and a support level at 1,400 – 1,410 points for today’s session, forecasting the Thai market to potentially decline during the weekend, while investors monitoring the situation in the Middle East.
The brokerage house recommends investors accumulate stocks with the value theme that has declined such as ADVANC, TRUE, SCB, KTB, and GULF, as well as speculate on the palm oil and ethanol sector including BBGI, VPO, and UBE, which are expected to benefit from the government’s push for biodiesel B10 and B20 utilization.
Yesterday, Thailand’s SET Index closed at 1,417.45 points, decreased 23.40 points or 1.62%, with a trading value of THB 73.42 billion.
