Thai stocks dipped 0.76 percent on Tuesday as quick profit-taking hit bank stocks and a fall in oil prices triggered selling of energy shares, analysts said. The benchmark Stock Exchange of Thailand composite index fell 4.91 points to 642.65 following a 3.45 percent rise over the previous three trading days. The big-cap SET50 was 0.86 percent lower at 45.15 points and turnover fell to 19 billion baht ($470 million) from 30 billion baht on Monday.
The bank sub index dropped 1.3 percent, with top bank Bangkok Bank down 1.1 percent at 101 baht and number three bank Kasikornbank down 2.8 percent at 52 baht.
Both rose more than two percent on Monday, driven by bullish foreign buyers who bought a net 4.6 billion baht of Thai shares.
Analysts said they expected the market to rebound on Wednesday.
"The main index should rise to 652 points tomorrow and the debut of MCOT shares should be a highlight," said Syrus Securities analyst Charoen Iampathanatham.
Shares in television broadcaster MCOT are expected to rise on their debut on Wednesday as investors bet that the 22 baht offer price was cheap, analysts said.
Declining oil prices helped the broader market sentiment, but caused investors to switch from oil-related energy stocks like PTT, which fell 1.76 percent to 167 baht, dealers said.
The energy sub index fell 1.09 percent.
US crude futures were down 0.53 percent at $46.62 a barrel at 0950 GMT.
Profit taking ate into early gains by shares in Shin Satellite, Asia's second-biggest satellite operator and they closed down 1.2 percent at 16.8 baht after rising to 17.4 baht in early trade.
The telecommunication sub index fell 0.32 percent.
Property shares fell 0.6 percent as shares in top construction contractor Italian Thai fell 1.69 percent to 8.75 baht.
Shares in television broadcaster BEC World fell 3.2 percent to 15.1 baht and ITV PCL fell 1.3 percent to 15.1 baht, ahead of the debut of rival MCOT.