10 Stocks That Propelled the Index Today
The SET Index closed today at 1,322.50 points, up 10.51 points (+0.80%), with a trading value of 31,299.39 million baht.
Mr. Soraphol Virameteekul, Assistant Managing Director, Head of Investment Strategy Team, Kasikorn Securities, stated that the Thai stock market rebounded today. The leading market sector was food and beverages, driven by buying interest ahead of the first day of trading for Chao Sua Foods Industry Plc (CHAO) tomorrow. Additionally, domestic play was fueled by the progress of the Digital Wallet measure. On July 24, Prime Minister Settha Thavisin will provide a detailed announcement regarding this measure, particularly the date for opening registration.
However, today’s trading volume remained relatively light, as the market anticipates various developments this week. Notably, the Constitutional Court’s consideration of the case filed by 40 senators to remove the prime minister is pending. It remains to be seen if the verdict will be postponed. Additionally, on July 9-10, investors will be watching closely for the statement of Mr. Jerome Powell, Chairman of the US Federal Reserve (Fed). The market is hoping for a dovish stance from the Fed. Expectations remain for the Fed to reduce interest rates twice this year. In the middle of the week, China will release its inflation figures for June. It is anticipated that the Consumer Price Index (CPI) will rebound, while the Producer Price Index (PPI) will remain stable.
Looking towards tomorrow’s trend, the market is expected to continue fluctuating within a range, with support at 1,300 points and resistance at 1,330 points.
The top 5 securities with the highest trading value:
EA Trading value 1,640.01 million baht, closed at 13.20 baht, down 0.50 baht.
CPALL Trading value 1,372.65 million baht, closed at 56.50 baht, up 1.00 baht.
CPF Trading value 1,259.73 million baht, closed at 24.40 baht, up 0.80 baht.
AOT Trading value 1,089.91 million baht, closed at 57.25 baht, up 0.75 baht.
KBANK Trading value 853.77 million baht, closed at 130.00 baht, up 0.50 baht.
10 Stocks that Pushed the Index Today
SET closed today at 1,322.50 points, up 10.51 points (+0.80%), trading value 31,299.39 million baht.
Mr. Soraphol Virameteekul, Assistant Managing Director, Head of Investment Strategy Team, Kasikorn Securities, shared insights into the Thai stock market’s performance today, highlighting the recovery driven by the food and beverages sector. This rally comes ahead of the stock market debut of Chao Sua Foods Industry Plc (CHAO) tomorrow. Furthermore, the Domestic Play, fueled by the digital wallet initiative, is also contributing to the positive sentiment. Prime Minister Settha Thavisin is expected to announce detailed information on the Digital Wallet program on July 24, with a particular focus on the registration process.
Although the market witnessed a recovery, the trading volume remained relatively low as investors await key developments this week. The Constitutional Court’s verdict on the case filed by 40 senators to remove the prime minister is a significant factor to watch. Also, the Fed’s statement on July 9-10, including any potential dovish stance from Chairman Jerome Powell, will be closely monitored. The market expects the Fed to implement two interest rate cuts this year.
In the middle of the week, China will announce the inflation figures for June. The market forecasts a recovery in the Consumer Price Index (CPI) and stable Producer Price Index (PPI). Looking towards tomorrow, the market is anticipated to fluctuate within a range, with support at 1,300 points and resistance at 1,330 points.
Top 5 Securities with the Highest Trading Value
| Stock Code | Trading Value (Million Baht) | Closing Price (Baht) | Change (Baht) |
|---|---|---|---|
| EA | 1,640.01 | 13.20 | -0.50 |
| CPALL | 1,372.65 | 56.50 | +1.00 |
| CPF | 1,259.73 | 24.40 | +0.80 |
| AOT | 1,089.91 | 57.25 | +0.75 |
| KBANK | 853.77 | 130.00 | +0.50 |
**Note:** The above data is based on the information provided in the article and may not reflect the latest market conditions.
Key Takeaways
* The Thai stock market experienced a recovery today, driven primarily by the food and beverages sector and anticipation surrounding the upcoming Chao Sua Foods Industry Plc (CHAO) listing.
* The Digital Wallet initiative is another significant factor contributing to the market’s positive sentiment.
* Despite the recovery, trading volume remained relatively low as investors await crucial developments, including the Constitutional Court’s decision on the case filed once morest the prime minister and the Fed’s interest rate policy.
* The market is expected to fluctuate within a range, with support at 1,300 points and resistance at 1,330 points.
Market Outlook
The upcoming week is expected to be pivotal for the Thai stock market. Investors will be keenly observing the Constitutional Court’s verdict on the case filed once morest the prime minister, the Fed’s interest rate policy, and China’s inflation figures. The outcome of these events will have a significant impact on market sentiment and might influence future price movements.
Investment Strategies
Investors should remain cautious and adopt a selective approach to their portfolios. Closely monitor market developments and focus on fundamentally strong companies with sound growth prospects. The digital wallet initiative and the food and beverages sector offer potential investment opportunities.
