The article examines the relationship between the Thai stock market and key economic factors over a 20-year period. The study finds that money supply has a positive impact on the stock market, while consumer prices and industrial production have a negative influence. In times of imbalance, these factors work to restore equilibrium. The research also shows that industrial production and money supply have a two-way relationship, while consumer prices, interest rates, and GDP are linked to stock market movements in Thailand.