Thai Stock Market Closes with Narrow Range Swings

The Stock Exchange of Thailand (SET) closed at 1,462.95 points, down 1.22 points (-0.08%), with a trading value of approximately 28,418.43 million baht.

The market index oscillated within a narrow range, fluctuating between positive and negative territory. The highest point reached was 1,473.28 points, while the lowest point was 1,461.46 points.

In terms of securities performance, 185 stocks increased, 309 decreased, and 176 remained unchanged.

Market Analysis

According to Mr. Thanomsak Saharatchai, Assistant Managing Director and Head of Research at Krungthai Xspring Securities, the Thai stock market’s narrow range swings were due to investors waiting for clarity on various factors, particularly the US presidential election. This uncertainty has caused investors to delay investing before the US election.

However, strong buying by institutional investors and a slowdown in foreign investor activity have resulted in a lack of supporting factors for the index. Other Asian stock markets also experienced mixed movements, with some trending positive and others negative.

Outlook

The market trend is expected to remain sideways, with other factors, such as the Federal Reserve (Fed) meeting at the end of the week, still to be followed.

Resistance levels are expected to be around 1,470-1,475 points, with support levels at 1,445-1,450 points.

Top-Traded Securities

• DELTA: Trading value of 1,618.02 million baht, closing at 139.50 baht, up 1.50 baht.
• KTB: Trading value of 1,350.66 million baht, closing at 20.60 baht, down 0.10 baht.
• GULF: Trading value of 1,166.80 million baht, closing at 66.50 baht, up 0.50 baht.
• ADVNC: Trading value of 1,092.02 million baht, closing at 272.00 baht, unchanged.
• CPALL: Trading value of 977.56 million baht, closing at 64.50 baht, up 1.00 baht.

By Jirayut Chansongsakul/Ratchada Kongkhunthian