On Tuesday, Thailand’s SET Index closed the morning trading session at 1,593.34 points, showing an increase of 24.97 points or 1.59%, with a trading value of THB 60.68 billion.
According to Bualuang Securities (BLS), the Thai stock market saw a strong rebound in the morning session, driven by significant buying in large-cap stocks, particularly GULF, DELTA, and banking groups. These purchases supported the index, with the move likely a result of investors buying back equities after strong selling pressure at the end of trading last Friday due to the MSCI Index portfolio adjustment.
At the same time, energy stocks with exposure to oil prices also experienced gains, following an upswing in global oil prices, attributed to the prevailing uncertainty surrounding the ongoing peace negotiations between the U.S. and Iran.
The rally in energy stocks provided further support to the Thai stock index, enabling it to advance in contrast to most other Asian stock markets, which saw declines this morning after broad gains in the previous session.
Looking ahead, Bualuang forecasts that the Thai bourse will likely continue to trend positively in the afternoon, with the potential to test the initial resistance at 1,600 points and a support level at 1,580 points.
The top five stocks by trading value were as follows:
- GULF: trading value of THB 7.24 billion, closing at THB 65.75, up THB 3.75 or 6.05%
- ADVANC: trading value of THB 3.84 billion, closing at THB 366.00, up THB 13.00 or 3.68%
- DELTA: trading value of THB 3.71 billion, closing at THB 357.00, up THB 4.00 or 1.13%
- TRUE: trading value of THB 3.23 billion, closing at THB 14.20, up THB 0.40 or 2.90%
- SCB: trading value of THB 3.11 billion, closing at THB 137.50, up THB 3.00 or 2.23%
