Thai stocks closed 4.70 points lower, swinging within a narrow range. Purchasing power in telecom sector supports market after Fed maintains interest rates: InfoQuest

• The stock market closed today at 1,363.25 points, down 4.70 points (-0.34%), with a trading value of 48,883.09 million baht.

• Today's stock trading, the index fluctuated narrowly in positive and negative territory. The index recorded its lowest point at 1362.01 points, and its highest point at 1372.01 points.

• As for securities, the changes today increased by 169 securities, decreased by 318 securities, and remained unchanged by 171 securities.

Mr. Surapoon Weeramithikul, Assistant General Manager and Head of the Investment Strategy Team at Kasikorn Securities, said that the Thai stock market today fluctuates within a narrow range, similar to regional markets. After the results of the US Federal Reserve meeting, it was decided to maintain interest rates but there is no indication that there will be an increase in interest rates. At the same time, the yield on US government bonds (bond yield) and the value of the dollar began to slow. As a result, the overall stock market reaction was not very negative.

In addition, the market is in the earnings reporting period of listed companies. This is currently reported by about 20% of all companies. There are stocks that perform better than expected. Supporting the market from a sharp decline. Stocks that improved well today were the ICT group, including ADVANC, which achieved good results. Push stocks in groups like TRUE higher as well. Including food export groups that benefit from the depreciation of the baht.

Meanwhile, energy stocks weighed on the market today. After the decline in crude oil prices due to an increase in US crude oil inventories, including the United States traveling to Saudi Arabia. To discuss conflict issues in the Middle East

Tomorrow's Thai stock market trend is expected to swing sideways. Wait to follow the Energy Group's earnings report for the first quarter of 2024. The support level is 1,350 points and the resistance level is 1,370 points.

The securities with the highest trading value are 5 securities

• In order Trading value reached 3,614.48 million baht, closing at 150.50 baht, down 6.00 baht.

• advanced Trading value reached 3,428.79 million baht, closing at 207.00 baht, an increase of 9.50 baht.

• TRUE Trading value reached 2,042.98 million baht, closing at 8.05 baht, an increase of 0.35 baht.

• Convention on the Rights of the Child Trading value reached 1,693.58 million baht, closing at 32.25 baht, down 2.25 baht.

• CPALL Trading value reached 1,340.30 million baht, and closed at 58.75 baht, an increase of 1.25 baht.

Written by InfoQuest News Agency (02 May 2024)

Tags: SET, SET Index, Thai Stock Market, Sorapon Weerameteekul, Thai Stocks