The SET closed the morning session at 1,636.31 points, down 4.72 points (-0.29%), with trading value of approximately 51,203 million baht. Analysts revealed that the Thai stock market fell during the morning session in line with overseas markets, amid concerns over the ongoing tensions in the Middle East and crude oil prices surging past USD 100 per barrel. However, this also served as a supporting factor for oil-linked stocks, helping to prop up the index. Although worries over accelerating inflation have raised concerns about a faster-than-expected interest rate hike, buying interest in banking sector stocks helped narrow the extent of the decline. The Thai stock market is expected to move sideways within a range in the afternoon session, with resistance at 1,645–1,650 points and support at 1,615–1,620 points.
During the morning trading session, the index fluctuated primarily in negative territory, hitting a low of 1,622.59 points and a high of 1,641.70 points.
Mr. Therdsak Thaveetheeratham, Executive Director of Asia Plus Securities, stated that the Thai stock market fell during the morning session in line with the direction of overseas markets. Concerns remain over the prolonged situation in the Middle East, and crude oil prices have resumed their climb, breaking above USD 100 per barrel. Nevertheless, this has been a supportive factor for oil-price-linked stocks in the Thai market, helping to cushion the index.
At the same time, renewed concerns over accelerating inflation have fed through to expectations that interest rates could rise more quickly. Although this is a factor pressuring the stock market overall, certain sectors stand to benefit — most notably banking stocks, which saw buying interest return today, helping to reduce the depth of the index's decline.
The Thai stock market is expected to move sideways within a range in the afternoon session, with resistance at 1,645–1,650 points and support at 1,615–1,620 points.
