Thai Stocks Fall Below 1,600 Points; InnovestX Cites 3 Pressures, Watches 1,560 Level

Money & Banking·30 Sep 2026·

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Price Action Macro Digital Finance Consumer Staples Distribution & Retail

CPALL.BK ▲

CPN.BK ▲

CRC.BK ▲

Summary · why it matters

InnovestX Securities assesses that the Thai stock market has declined and fallen below the 1,600-point level, pressured by three main factors: US bond yields that remain elevated, selling by foreign investors, and concerns over the impact of the flood situation. During September 22-29, 2026, foreign investors posted net selling of Thai stocks for six consecutive trading days, totaling nearly 20 billion baht. Meanwhile, the SET has risen about 27% since the start of the year, with the energy, banking, and electronics sectors up 38.5%, 32.4%, and 53.5% respectively, prompting profit-taking to reduce risk. As for the outlook for the Thai stock market, the break below the 75-day moving average has damaged the short-term positive structure, with 1,560 points a key test of confidence. If it cannot hold, there is a chance of a decline to the 1,550-1,555 range; if it holds, a short-term technical rebound is possible, with resistance at 1,585-1,590 points. On investment strategy, a Selective Buy approach is recommended, temporarily avoiding large-cap stocks that rose sharply earlier and focusing on stocks tied to domestic purchasing power. The recommended stock list includes CPALL, CPN, and CRC in the commerce group, BCH and PR9 in the medical group, and TRUE in the communications group.

CP ALL Public Company Limited ▲

Central Pattana Public Company Limited ▲

Central Retail Corporation Public Company Limited ▲