Krungthai XSpring expects the Thai market to trade sideways, as investors are monitoring the Middle East situation due to renewed tensions and uncertainties following reports of military actions.
However, the climbing oil prices may bolster the oil-related stocks, while positive sentiment toward technology stocks may also support the relevant sectors, despite the lack of new supporting factors.
The securities firm set a resistance level for the SET Index at 1,560 points and a support level at 1,530 points for today’s session.
Daol Securities stated that the SET Index may extend gains despite potential volatility from the unresolved U.S.-Iran conflict.
The Thai market is anticipated to be buoyed by significant foreign fund inflows toward both stocks and bonds, as well as clearer economic-driving factors.
The analyst firm recommends investors gradually accumulate stocks, with a focus on the Anti-Commodity group that benefited from declining costs, stocks with attractive dividend yield, retail stocks that benefited from the “Thai Chuay Thai Plus” measure, as well as lagged stocks in the hotel, aviation, and power plant sectors.
Yesterday, Thailand’s SET Index closed at 1,553.36 points, increased 3.03 points or 0.20%, with a trading value of THB 58.36 billion.
