On Thursday at 11:11 AM (Bangkok time), the share price of Global Power Synergy Public Company Limited (SET: GPSC) jumped by 3.53% or THB 1.50 to THB 44.00, with a trading value of THB 396.51 million.
B.Grimm Power Public Company Limited (SET: BGRIM) rose by 3.26% or THB 0.70 to THB 22.20, with a trading value of THB 207.81 million.
Gulf Energy Development Public Company Limited (SET: GULF) increased by 3.92% or THB 2.00 to THB 53.00, with a trading value of THB 991.79 million.
Asia Aviation Public Company Limited (SET: AAV) grew by 0.83% or THB 0.02 to THB 2.44, with a trading value of THB 28.35 million.
Bangkok Airways Public Company Limited (SET: BA) surged by 1.84% or THB 0.40 to THB 22.10, with a trading value of THB 33.19 million.
Reports indicated yesterday that Thai power plant and airline stocks experienced a boost in investor sentiment following a drop in crude oil prices. The prices settled approximately 5% lower on Tuesday, marking a nine-month low. This decline came after signals emerged regarding a potential resolution to a political conflict that had disrupted crude oil production and export from Libya.
On Tuesday, Brent futures for November dropped $3.77 or 4.86% to $73.75 a barrel, while the West Texas Intermediate (WTI) for October contracted $3.21 or 4.36% to $70.34 per barrel.
Asia Plus Securities noted that the anticipated sustained decline in crude oil prices is expected to have a positive impact on power plant stocks like BGRIM and GPSC, in which the analyst assigns target prices of THB 34 and THB 55 per share, respectively.
Furthermore, logistics and cement firms, which heavily rely on power, such as SCCC (with a target price of THB 196) and SJWD (with a target price of THB 16.30), along with airline-related stocks like AOT (with a target price of THB 69), are also expected to reap the benefits from this trend.
On the other hand, Krungsri Securities (KSS) also anticipates a favorable market sentiment for stocks that are impacted by oil prices, including AAV and BA in the airline sector, TASCO in construction, and GULF, BGRIM, and GPSC (recently excluded from the MSCI Index) in the power plant industry.
