Analysts expect the SET Index to continue its downward trend in the afternoon session due to the sell-off in agriculture, automotive and retailing sectors.
The SET Index ended Tuesday morning trading at 1,666.10 points, down 10.77 points or 0.64%, with a trade value of THB65,500 million.
Finansia Syrus Securities (FSS) forecasts the SET Index on Tuesday to move sideways between 1,672-1,682 points, as the SET continues lacking new positive factors, while outflows continue as the US bond yield and Dollar Index keep rising. Crude oil prices have begun to normalize, with WTI trading between US$83 and US$84 per barrel.
Globlex Securities (GLOBLEX) forecasts the SET to trade between 1,660 and 1,675 points, with potential downward trend, owing to a sell-off in mid-cap agricultural, automotive, and retailing stocks. Meanwhile, a surge in oil prices seems to have little influence on energy equities. This is a warning sign to avoid selling pressure.
