Dao expects SET this week in 1,585-1,630 range, eyes FOMC, highlights PTTEP and CRC

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Dao Securities (Thailand) expects the SET index to move in a range of 1,585 to 1,630 points this week, with the market watching the FOMC meeting as the key highlight after inflation figures came in close to the previous month. Although Core CPI fell slightly, Fed officials' insistence that they will keep a close watch on inflation numbers has raised market expectations that the Fed will hike its policy rate at this meeting to as high as 87%. Meanwhile, the Iran war remains protracted with no sign of an easy end, supporting oil prices staying elevated for a long time, and buying from the energy sector is expected to follow the upward trend in oil prices. For today's SET range, support is at 1,595-1,600 points and resistance at 1,610-1,615 points. Today's standout stocks are PTTEP, which continues to enjoy positive sentiment from oil prices, with Brent up about 3% in this morning's opening after Saudi Arabia ordered the shutdown of the East-West Pipeline due to a drone attack, with a "buy" recommendation and a target price of 180.00 baht, and CRC, whose same-store sales growth in July-August 2026 remained a solid positive 2%, led by Food at +5% and Fashion at +2%, helping offset Hardline which was still -3%, with a "buy" recommendation and a target price of 33.00 baht. Normal profit for 2026E/27E is expected at 9.4 billion and 9.9 billion baht, up 16% and 6% respectively.

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