Kasikorn Securities sees SET swinging between 1,580 and 1,630 points, picks ADVANC, BCH, CPALL and STECON as top stocks

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Kasikorn Securities expects the SET Index to swing within a range of 1,580 to 1,630 points this week, after the index returned to stand above 1,600 points last week, supported by Fitch's upgrade of Thailand's outlook from Negative to Stable, strong August export figures, and buying in DELTA on the recovery of global technology stocks. On Friday, the Thai market closed at 1,607.63 points, up 0.32%, driven by heavy buying in electronics and construction. For today, the brokerage estimates the SET Index range at 1,590 to 1,620 points, reflecting short-term negative sentiment from weekend flooding in Thailand and lingering geopolitical risks. It noted that US-Iran geopolitical risk remains a key factor supporting a recovery in oil prices and could add pressure on inflation, the US dollar and bond yields. Domestically, investors must monitor the flood situation, which could weigh on short-term sentiment. Statistics on Thai floods from 2006 to 2024 show the SET fell an average of about 1% in the one month after such events, but the impact this time is expected to be limited, so the pullback is seen as an opportunity to accumulate. On key economic factors, investors should watch ISM and PMI readings, US employment and unemployment figures, and US PCE and Core PCE, which will affect the direction of Fed policy. This week's strategy therefore focuses on stocks with good earnings growth prospects and low risk, with ADVANC, BCH, CPALL and STECON chosen as the top stocks of the week. It set a base price for CPALL at 57.20 baht with a buy recommendation, expecting 2026 profit to grow 9% year on year, and a base price for ADVANC at 385.34 baht, viewing the stock's pullback as bringing its valuation back to an attractive level and lifting its dividend yield to 4.8%.

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CP ALL Public Company Limited
CPALL
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Kasikorn Securities sets a base price of 57.20 baht with a buy rating on CPALL, expecting 2026 profit to grow 9% year on year.

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