Thailand’s SET Index closed the morning session at 1,448.75 points, up 5.83 points or 0.40%, with a trading value of approximately THB 27.96 billion.
Mr. Kitphon Praipaisankij, Deputy Managing Director at UOB Kay Hian Securities (Thailand), stated that the Thai stock market performed better than most other Asian markets this morning, supported by gains in the petrochemical, refinery, and alternative energy crop sectors—such as palm oil, rubber, and biodiesel—or the broader commodity group.
This is due to the benefit of rising crude oil prices, which is expected to significantly drive up profits, particularly for the refinery sector, which could achieve profits exceeding THB 10 billion in the first quarter of 2026.
Meanwhile, general businesses have yet to be impacted by oil prices during the quarter. Overall, listed companies’ earnings in 1Q26 are likely to remain robust, thereby attracting speculative buying.
Looking ahead to April, the energy, petrochemical, and refinery sectors are expected to continue providing support to the market. However, concerns emerge over the second quarter of 2026, as pronounced impacts could be distinct among listed companies from a sharp increase in domestic oil prices, affecting purchasing power.
Additionally, packaging shortages may arise from the impact on plastics factories, making it hard to assess the full extent of the effect in the quarter. Following these, the brokerage flags caution after the Songkran festival through early May, as the market may undergo a significant correction.
With the conflict in the Middle East still ongoing, the market continues to see speculative activity in the energy and commodity sectors, which are not at risk of earnings downgrades. Conversely, domestic consumption stocks, including retail and transportation, may face cost pressures and contracting purchasing power, though the degree of impact on their financial statements remains unclear.
The outlook for the Thai stock market next week suggests the possibility of a pullback, with a trading range of 1,418–1,470 points. For this afternoon, the support level is seen at 1,440 points, and the resistance at 1,460 points.
The five securities with the highest trading value are as follows:
- DELTA: trading value of THB 2.20 billion, closed at THB 276.00, down THB 2.00 or 0.72%
- TRUE: trading value of THB 1.73 billion, closed at THB 13.70, down THB 0.30 or 2.14%
- AOT: trading value of THB 1.56 billion, closed at THB 52.00, up THB 1.25 or 2.46%
- GULF: trading value of THB 1.41 billion, closed at THB 57.25, up THB 0.50 or 0.88%
- PTTEP: trading value of THB 1.16 billion, closed at THB 160.00, up THB 2.00 or 1.27%
