Bangkok Market Inches Closer to 1,300 Milestone as Energy Rally Fuels Tuesday's Outlook

The Thai equities rally shows no signs of slowing down. Over consecutive trading sessions, the SET index has climbed beyond 25 points, representing a solid 2% advance. With the benchmark currently hovering just north of 1,280, market participants are eyeing whether the index will flirt with the psychologically significant 1,300 level in the near term. Tuesday’s opening is expected to extend the upside momentum, though profit-taking could emerge toward the session’s close.

Monday’s Strong Close Sets Bullish Tone

The SET delivered an impressive performance on Monday, surging 20.38 points to close at 1,280.05, translating to a 1.62% gain. The advance was underpinned by broad-based strength across food, finance, real estate, services, and technology sectors. Trading volume reached 6.720 billion shares valued at 45.727 billion baht, reflecting solid participation. The gainers outnumbered decliners 252 to 207, with 205 stocks finishing flat.

Individual Stocks Drive the Move

Among the blue chips, Siam Concrete emerged as a standout performer, soaring 3.54%, while Thai Oil rallied 3.47% and True Corporation accelerated 3.67%. Financial plays also attracted buyers, with Siam Commercial Bank vaulting 2.16% and Krung Thai Bank strengthening 1.77%. Transport and hospitality names contributed as well—Thailand Airport climbed 2.83% and BTS Group improved 1.75%. Meanwhile, energy-related issues showed mixed action, with PTT Oil & Retail expanding 1.50%, though PTT itself declined 0.78% and PTT Exploration and Production slumped 0.88%.

Global Markets Paint Optimistic Picture

The positive regional backdrop comes as Wall Street delivered a strong session. The Dow rallied 594.79 points or 1.23% to close at 48,977.18, while the S&P 500 gained 43.58 points or 0.64% to finish at 6,902.05. Oil sector strength dominated, with Chevron surging 5.1% following geopolitical developments, while the Philadelphia Oil Service Index spiked 5.5% on expectations for infrastructure reconstruction activity. Crude oil prices themselves jumped, with West Texas Intermediate for February delivery gaining $0.58 or 0.99% to settle at $58.31 per barrel.

What’s Driving the Oil Rally?

OPEC’s reaffirmation that production increases will be paused through early 2026 provided crucial support for crude, easing oversupply anxieties. Despite U.S. manufacturing data coming in weaker than expected in December, the energy narrative continues to dominate investor sentiment globally.

The Path Forward

The SET’s proximity to 1,280 combined with positive international leads suggests the index could indeed flirt with 1,300 in the sessions ahead. Oil stocks appear positioned to lead any further advance, though traders should remain vigilant for profit-taking whenever momentum pauses.