On Friday, TISCO Securities expects the Thai market to decline due to the protracted U.S.-Iran war. Despite the U.S. President Donald Trump halted the attack on Iran critical infrastructure until April 6, the prospect of the war lasting beyond one month has become a negative sentiment for the stock markets, and raising concerns over the impact on the economy and surging inflation.
The securities firms set a resistance level for the SET Index at 1,460 points and a support level at 1,420-1,430 points for today’s session.
Kingsford Securities set a resistance level for the SET Index at 1,450 points and a support level at 1,420 -1,430 points for today’s session, forecasting the Thai market to potentially edge down and consolidate due to concerns of climbing retail oil prices, which may potentially become a downward factor for listed companies’ profit outlook this year.
The analyst firm recommends investors accumulate stocks in the renewable energy sector such as GUNKUL and TSE, as well as speculate on the biodiesel sector including BBGI, UBE, PCE, and VPO.
Yesterday, Thailand’s SET Index closed at 1,442.92 points, decreased 14.99 points or 1.03%, with a trading value of THB 65.31 billion.
