Thai stocks closed down 5.25 points, weighed down by selling in DELTA, banks, and big-cap stocks. A rebound is anticipated next week.

Thai stocks closed today, April 24th, at 1,456.10 points, down 5.25 points, with a trading value of 48,768 million baht. The main pressure came from a correction in the banking sector and selling pressure on DELTA, as well as large-cap stocks, due to concerns over the new MSCI criteria. Investors are advised to monitor the situation in the Middle East, which could pressure upside potential, but a rebound is possible this week.

The Stock Exchange of Thailand (SET) index closed at 1,456.10 points on April 24, down 5.25 points (-0.36%), with a trading volume of 48,768.41 million baht. Foreign investors were net sellers of 1,301.90 million baht, while mutual funds were net buyers of 163.27 million baht.

Today, there were 10 securities traded on the big board (BIG LOT), 12 items. KBANK was found to have the highest value of 489.80 million baht, with an average price of 189.79 baht per share.

Mr. Narongdej Chantrapaisarn, Director of Securities Analysis at Ira Securities, said that the Thai stock market fluctuated sideways today. It initially fell due to selling pressure from DELTA and other large-cap stocks, as well as the fact that the banking sector has finished its earnings and dividend announcement cycle. Therefore, there is a lack of new catalysts in the short term.

While DELTA was sold off due to concerns about MSCI preparing to fully adjust its free float calculation criteria for the May 69 rebalancing, resulting in capital outflow and pressuring the overall market, this portfolio adjustment is considered a short-term factor. The market may have been overly concerned, leading to buying interest in DELTA towards the end of the trading day as the downside risk decreased.

It is recommended to closely monitor the conflict in the Middle East, as it is keeping oil prices high and limiting the upside potential of the market.

For next week (April 27-30), the market is expected to remain sideways. A short-term rebound is possible, but the upside remains limited. Monitor the Cabinet meeting; although the economic stimulus policy issues may not significantly impact the index, they could help limit the downside. Resistance is estimated at 1,460-1,470 points, and support at 1,450-1,444 points.

5 securities with the highest trading value

• KBANK trading value 3,894.16 million baht, closing at 190.00 baht, down 1.50 baht.
• DELTA Trading value 3,377.70 million baht, closed at 290.00 baht, down 3.00 baht
• TRUE trading value 2,915.16 million baht, closed at 13.50 baht, decreased 0.30 baht.
• PTTEP trading value 2,694.79 million baht, closed at 149.50 baht, increased 2.00 baht
• SCB trading value 2,505.01 million baht, closed at 129.50 baht, decreased 2.00 baht.

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