The morning SET index slipped more than 10 points, under pressure to sell large cap stocks, worried about a poor budget.

The early morning stock market declined more than 10 points after opening with small gains, but there was selling pressure on major stocks, causing the index to turn down.

At 10:42 am, the SET index was at 1,671.34 points, down 10.77 points (-0.64%).

Last at 10:59 am, the SET index was at 1,670.60 points, down 11.51 points (-0.68%).

Mr Narongdej Chantaraphaisan, assistant director of securities analysis, AIRA Securities, said that the Thai stock market this morning flowed down to support the sell-off of major stocks related to petrochemical spreads after Siam Cement Public Company Limited (SCC) announced 4Q22 results. worse than expected due to narrow petrochemical spreads, weighing on PTT, PTTGC, while JMART stocks fell after expectations of improved earnings which came out disappointing.

Overall, the market is under selling pressure from several stocks expected to underperform, weighing on the market. In particular, the energy sector dragged the market down to 4 points. The rest of the day, the market should penetrate, but the downside is not much. Place the first support at 1,660, if dropped, the next at 1,650 points, and the resistance at 1,675 points.