Brokers project neutral outlooks for the Thai stock market on Tuesday, supported by stronger-than-expected corporate earnings and GDP growth. However, domestic strengths may potentially be offset by external uncertainties and oil price volatility linked to ongoing tensions in the Middle East.
Kasikorn Securities expects the Thai benchmark to trade sideways, as robust financial performance by Thai listed companies in the second quarter of 2026, alongside GDP results surpassing forecasts, provided a buffer to the equity market against global headwinds.
The brokerage expects these domestic fundamentals to limit the impact from international factors and fluctuations in crude oil prices driven by persistent geopolitical uncertainty.
The analyst set a support level for the SET Index at 1,610 points, and a resistance level at 1,640 points.
Daol Securities also anticipates the Thai bourse to move sideways, citing renewed uncertainty in investment sentiment due to ongoing U.S.-Iran negotiations. The firm also highlighted the potential for profit-taking pressure following a steady recovery in the index.
However, the brokerage firm sees rising oil prices as a potential beneficiary for energy stocks, which could help shield the overall market from significant declines.
Yesterday, Thailand’s SET Index closed at 1,626.44 points, increased 17.38 points or 1.08%, with a trading value of THB 75.66 billion.
