On Friday, TISCO Securities expects the Thai market to rebound due to positive sentiments from news of Iran’s reopening of the Strait of Hormuz, while collecting tolls.
However, the brokerage house estimated that the trade volume will be weak ahead of the holiday, due to potential selling pressure as investors reduce risks.
The securities firms set the resistance level for the SET Index at 1,460 – 1,464 points. A support level is given at 1,480 points and 1,500 points for today’s session.
Daol Securities disclosed that the SET Index may potentially move sideways with volatility but within limited range today—while the U.S. market closed and the Asian markets rebound—due to selling pressure from concerns over the prospect of the prolonged war in the Middle East.
However, the Thai market still has positive catalysts from stocks in the energy sector, which grew alongside the global oil prices. The prospect of domestic economic stimulus measures such as the “Half-Half Plus” scheme has also become a positive factor for the retail sector.
Yesterday, Thailand’s SET Index closed at 1,465.72 points, decreased 5.27 points or 0.36%, with a trading value of THB 55.25 billion.
