2024-03-26 02:38:38
InfoQuest News Agency (26 Mar. ’24)
Analyst Indicates that the Thai stock market this morning expects the index to rebound after falling sharply yesterday. with support from recovering oil prices and the consideration of the Senate’s draft budget for 2024, including the expectation of window dressing, which has a chance of occurring in the first quarter of more than 70%, all 3 issues should help support the market to recover somewhat. Giving a support frame of 1,365 points and a resistance level of 1,380-1,385 points.
Mr. Apichart Phubanjerdkul, CISA Senior Director Strategic Analysis Division, TISCO Securities, said that the Thai stock market trend this morning is expected to rebound after yesterday’s sharp decline. This was supported by the price of crude oil starting to recover. Today, there is also the Senate’s consideration of the draft Budget Act for the year 2024.
In addition, expect the occurrence of window dressing, which in terms of statistics, more than 70% is likely to occur in the first quarter. and normally gives an average return of 1.2%, all 3 issues mentioned above should help support the market to recover somewhat.
Today’s investment strategy recommends Selective Buy in the retail and construction sectors. that will benefit from the fiscal year 2024 expenditure budget and the energy group from the price of crude oil has increased
along with providing a support frame of 1,365 points and a resistance level of 1,380-1,385 points
*Investment consideration issues
– New York Stock Exchange (March 25) The Dow Jones Industrial Average closed at 39,313.64 points, down 162.26 points or -0.41%, the S&P 500 index closed at 5,218.19 points, down 15.99 points or -0.31%, and the Nasdaq index closed at 16,384.47 points, down. 44.35 points or -0.27%
– Asian stock markets open today. The Hong Kong Stock Exchange Hang Seng Index opened the morning session at 16,548.50 points, an increase of 74.86 points or +0.45%, and the Shanghai Composite China Stock Exchange Index opened the morning session at 3,026.92 points, an increase of 0.61 points or +0.02%. As for the Nikkei Index, The market opened at 40,345.04 points, down 69.08 points or -0.17%.
– The Thai stock market closed most recently (25 Mar.) at 1,372.49 points, down 8.55 points (-0.62%), trading value 41,151.59 million baht.
– Foreign investors bought a net amount of 1,056.84 million baht (25 Mar.)
– WTI crude oil price for delivery in May. (March 25) rose $1.32 or 1.64% to close at $81.95/barrel.
– The Singapore market’s reference refining margin last closed (25 Mar.) was at $6.63/barrel.
– The baht opened at 36.35, trending towards depreciation. Waiting to see Thai export numbers today.
– Yesterday (25 Mar.) “Thai stocks” dropped the lowest of the day by 12.83 points before closing at 8.55 points, reaching 1,372.49 points, accepting the Stock Exchange of Thailand’s sentiment. Extending afternoon trading hours earlier by 30 minutes. “Yanta Securities” points out that it does not help support trading volumes. Due to various negative factors both inside and outside the country, Reflecting that the US market has stabilized – inflation in some Asian countries is accelerating – concerns about conflict The United States and China are strong. Internal factors without new stories support “fund flow” outflow, hoping Thai exports will expand for the 7th month.
– Keep an eye on transportation Cabinet approves 3 extensions of the Red Line, expected to open for bidding in 2024. MRTA’s Fung Muang Tai progress is over 28%.
– ‘Thammanat’ prepares to ask for 33,530 million baht to do the project “Half Fertilizer” to distribute to 4.68 million farmers in households. Not more than 1,000 kilograms per household
– The car market is bustling, “EV” takes over the space at the 45th Bangkok International Motor Show, debuting new brands and new models. Enter the market to embrace the trend of living in the city. Keep an eye on the new options: Pickup Lifestyle is hot, while the organizers are confident that their income will increase by 15%.
*Today’s featured stocks
– SPRC (Krungsri) “Buy” target price 10.40 baht, operating results have passed the lowest point. And it should be able to turn to a net profit from 1Q24 onwards from the Crude run that increased from 88% in 4Q23 to 95% at present and is expected to have a profit from crude oil stocks following the increase in crude oil prices compared to a loss in 4Q23.
– NYT (Kingsford) “Buy” target price IAA Consensus 5.25 baht. The company reported 4Q23 net profit at 161 million baht, +30%QoQ, +75%YoY, driven by increased total income. 9%QoQ, +14%YoY according to the volume of Thai car exports and imports. and warehouse rental business with new rental space In addition, the share of profits from investment increased due to the C0 port. The gross profit margin improved to 46.6% from 39.9% in 4Q22, and in 2023 the company had a net profit of 501 million baht +100%YoY. As for the outlook for 2024, It is expected that profits can still grow. Further, there is a supporting factor from income from the new warehouse at Bowin with an increased rental rate. Port services can grow slightly from imports of EV cars. The share of profits from investment is expected to improve from last year from the C0 port where during 2H24 there will be transportation of drilling platform products and large cargo. In addition, if we consider stopping the operation of the Ferry Seahorse ship which has continued to lose, it is likely to be an upside to future operating results. Based on consensus, the market expects a profit in 2024 of 527 million baht +5%YoY. Even though the growth is not high, it is a stock that gives a good dividend yield of about 7.6% (dividend 0.36 baht/share XD 26 Apr.)
– CPALL (Liberator) “Buy” with a target price of 72 baht, expecting the trend in 1Q24 to continue growing. Driven by the improvement in consumption. and both CPAXT and Lotus subsidiaries support 2024 profits, expected to grow +18%yy, while in the short term the market is too concerned about the entry of new players amid the valuation of CPALL that is still trading at an affordable level. See it as an opportunity to gradually accumulate.
By Warinthon Sirinok/Ratchada Kongkhunthian
1711429904
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