Krungsri Securities Expects SET to Move Sideways/Up Today, Oil Surge Supports Energy Sector

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Summary · why it matters

Krungsri Securities (KSS) expects the SET to move within a Sideways/Up range today, with resistance at 1,626 and 1,632 points and support at 1,610 and 1,605 points. Meanwhile, Brent crude oil prices this morning are hovering near the psychological resistance of 100 US dollars, following the prolonged war, which may pressure De-escalation-themed stocks and increase caution towards risk assets due to inflation and interest rate concerns. However, the average crude oil price this year at 87 dollars remains positive for SET market earnings if the full-year assumption stays below 95 dollars. The energy and energy security sectors are the standout themes, while fund flows have been net buyers of Thai stocks for 5 out of the last 6 trading days. The baht has strengthened to 32.9 baht per dollar, supported by the upcoming ECB meeting tomorrow, which is expected to raise interest rates, and the PDP2026 plan, which is expected to proceed, as well as the Thai Tiew Thai Plus project, which has reached a conclusion. Recommended stocks include DELTA, GPSC, and SCC.

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