Mr. Thakrit Chatcherdsak, Assistant Director of Krungsri Capital Securities’ Research Department, stated in the “Kaohoon” program on October 28, 2026, that the short-term outlook for the Thai stock market remains in a sideways pattern as it awaits new drivers. Key catalysts include monetary policy decisions from the Federal Reserve and Thailand’s Monetary Policy Committee (MPC), alongside the ongoing release of third-quarter 2026 corporate earnings reports.
The analyst projected a support level for the SET Index at 1,570 and 1,565 points, with resistance levels at 1,586 and 1,590 points.
On overseas factors, Mr. Thakrit said investors should monitor the ongoing conflict in the Middle East, particularly progress in mediated negotiations between the United States and Iran, alongside Israeli election outcomes and U.S. political developments, which could impact global oil prices and risk assets.
Supply-side risks remain a central determinant of oil prices, particularly transport bottlenecks through the Strait of Hormuz. Persistent tensions preventing oil tankers from resuming normal operations could keep crude prices elevated despite ongoing diplomatic efforts to de-escalate the conflict.
Domestic sentiment is supported by net buying from foreign investors for five consecutive session days, the analyst noted, signaling a positive tone despite a slowing pace of net inflows. Large-cap equities remain positioned to benefit from capital inflows.
Mr. Thakrit noted that as Thai listed companies begin reporting third-quarter 2026 earnings, investors are advised to focus on selected stocks with robust profit growth while avoiding equities at risk of earnings downgrades. Sectors expected to attract interest include energy, petrochemicals, retail, tourism, healthcare, and electronic components.
Highlighted stock picks include PTTGC, TOP, and SCC, which the analyst views as having strong 3Q26 earnings prospects. In the retail sector, COM7 is noted as a key stock to watch.
In the services and tourism sector, AOT presents an attractive outlook driven by an anticipated year-end surge in tourism activity. Additionally, BDMS is identified as another stock likely to draw investor interest.
Within electronic components, KCE and HANA are recommended for monitoring. Both companies are expected to gain support from positive global tech sector trends, particularly in memory chips following better-than-expected earnings results from a major South Korean technology firm. However, a phased accumulation strategy is recommended, as Thai electronics stocks could face headwinds from declines in DELTA.
Regarding DELTA, although 3Q26 results came in below market expectations—potentially triggering short-term selling pressure—Krungsri maintains a positive outlook for the fourth quarter. Earnings are forecasted to recover quarter-on-quarter, with potential product price increases next year to absorb cost pressures.
Furthermore, the brokerage firm maintains its 2026 profit growth forecast for DELTA at 42%, noting that the 30% to 40% share price correction from peak levels has partially priced in negative factors. Further updates from the company will be monitored to evaluate operational trends and revise the target price accordingly.
For DELTA’s investment strategy, investors currently without positions need not rush to buy, despite shares declining near previous support around THB 232 and briefly dipping below THB 230 during morning trading. Investors are advised to wait for price movements to stabilize and show clear signs of consolidation before considering re-entry.
