Thai Stock Market Expected To Open In The Green On Monday

(RTTNews) - The Thai stock market rebounded on Friday, one day after snapping the three-day winning streak in which it had gathered more than 20 points or 1.5 percent. The Stock Exchange of Thailand now sits just above the 1,445-point plateau and it's tipped to open to the upside again on Monday.

The global forecast is positive, supported by increasing oil prices. The European and U.S. markets were up on Friday and the Asian markets are expected to open in similar fashion on Monday.

The SET finished modestly higher on Friday following gains from the consumer, finance, industrial and resource sectors.

For the day, the index added 5.84 points or 0.41 percent to finish at 1,446.30 after trading between 1,435.78 and 1,451.52. Volume was 12.967 billion shares worth 45.754 billion baht. There were 275 gainers and 203 decliners, with 183 stocks finishing unchanged.

Among the actives, Advanced Info climbed 1.05 percent, while Thailand Airport shed 0.41 percent, Banpu soared 4.35 percent, Bangkok Dusit Medical advanced 0.95 percent, B. Grimm jumped 1.93 percent, BTS Group soared 2.47 percent, CP All Public improved 0.83 percent, Charoen Pokphand Foods skidded 1.17 percent, Energy Absolute tanked 2.59 percent, Kasikornbank rose 0.34 percent, Krung Thai Bank collected 0.49 percent, Krung Thai Card strengthened 1.61 percent, PTT Oil & Retail rallied 1.35 percent, PTT accelerated 2.27 percent, PTT Exploration and Production spiked 2.75 percent, SCG Packaging increased 0.84 percent, Siam Concrete tumbled 1.79 percent, Thai Oil gained 0.62 percent, True Corporation plummeted 4.17 percent, TTB Bank added 0.56 percent and Bangkok Bank, Siam Commercial Bank, PTT Global Chemical, Asset World, Gulf and Bangkok Expressway were unchanged.

The lead from Wall Street is upbeat as the major averages opened higher on Friday and mostly stayed that way, ending in the green.

The Dow surged 426.16 points or 0.97 percent to finish at a record 44,296.51, while the NASDAQ added 31.23 points or 0.16 percent to close at 19.003.65 and the S&P 500 gained 20.63 points or 0.35 percent to end at 5,969.34.

For the week, the Dow surged 2.0 percent, while the NASDAQ and the S&P 500 both shot up by 1.7 percent.

The advance by the markets came despite a pullback by shares of Nvidia (NVDA), as the AI darling tumbled by 3.2 percent despite having reporting better than expected third quarter earnings and revenues.

In U.S. economic news, revised data released by the University of Michigan showed consumer sentiment in the U.S. improved less than expected in November - although the index is still at its highest level since April.

Oil prices climbed higher on Friday amid rising concerns about Russia/Ukraine conflict. West Texas Intermediate Crude oil futures for January closed up $1.14 or 1.6 percent at $71.24 a barrel. WTI crude futures gained 6.5 percent in the week.