Thai Stock Market Expected to Remain Rangebound Amid Mixed Global Cues

The Thai stock market is anticipated to remain rangebound on Friday, following a mixed global market outlook. The Stock Exchange of Thailand (SET) closed at 1,465.72 on Thursday, down 5.27 points or 0.36 percent, after trading within a narrow range. The decline was driven by losses in the finance, industrial, property, service, and technology sectors. With global markets divided over the Middle East conflict, the SET is expected to see minimal movement as investors remain cautious. On Thursday, the SET traded between 1,459.50 and 1,472.39, with 243 stocks declining and 201 advancing, while 214 stocks remained unchanged. Trading volume amounted to 8.403 billion shares, valued at 55.258 billion baht. Among the active stocks, several key players saw declines, including B. Grimm, which dropped 3.28 percent, and Energy Absolute, which fell 4.90 percent. Conversely, some stocks like Banpu and Charoen Pokphand Foods showed gains, rising 0.84 percent and 0.96 percent, respectively. The U.S. markets provided a mixed lead, with the Dow, S&P 500, and NASDAQ closing nearly flat. The NASDAQ added 38.23 points or 0.18 percent, while the S&P 500 rose 7.37 points or 0.11 percent, and the Dow slipped 61.07 points or 0.13 percent. Crude oil prices surged following concerns over potential supply disruptions in the Middle East, with West Texas Intermediate crude rising 11.93 percent to $112.06 per barrel. The uncertainty surrounding the conflict has led to heightened volatility in energy markets, which could indirectly affect the Thai market through trade and investment flows. Investors in the SET are advised to monitor global developments, particularly in the Middle East, as they could influence market sentiment and liquidity. The lack of significant domestic economic data releases this week means that external factors will likely dominate the market's direction. Analysts suggest that without a clear catalyst, the SET may continue to trade within its current range, offering limited opportunities for directional bets.