Summary · why it matters
CGSI, or CGS International Securities (Thailand), expects the SET Index to move in a range of 1,585 to 1,615 points today, amid pressure from rebounding crude oil prices, US government bond yields that remain elevated, and flooding in Thailand. WTI crude rose 1.14 dollars, or 1.23%, to 93.55 dollars per barrel, and Brent crude gained 1.82 dollars, or 1.74%, to 106.14 dollars per barrel, after US President Donald Trump rejected Iran's conditional proposal to reopen shipping through the Strait of Hormuz. In the US stock market on Friday, September 25, the Dow Jones Industrial Average closed at 51,828.62 points, up 478.64 points, or 0.93%; the S&P 500 closed at 7,743.41 points, up 39.28 points, or 0.51%; and the Nasdaq Composite closed at 27,068.72 points, up 129.34 points, or 0.48%. Meanwhile, COMEX gold futures for December delivery closed up 23.20 dollars, or 0.54%, at 4,321.20 dollars per ounce. Strategically, CGSI recommends stock-specific investing, highlighting CP All Public Company Limited, or CPALL, and Star Petroleum Refining Public Company Limited, or SPRC, as top picks. For CPALL, although third-quarter 2026 earnings are likely to mark the year's low point, the impact may not be as severe as the market fears, before a clear recovery in the fourth quarter of 2026, with a take-profit level of 45.00 baht and a stop-loss level of 43.50 baht. As for SPRC, although it may face pressure from higher freight rates and crude oil premiums in the fourth quarter of 2026, CGSI expects refining margins to remain above the industry mid-cycle average of around 5 to 6 dollars per barrel in 2027, with a take-profit level of 14.60 baht and a stop-loss level of 13.90 baht.
CP ALL Public Company Limited
Star Petroleum Refining Co Ltd