Worries of a second Covid-19 wave cast shadow over SET

A stock analyst at Krungsri Securities expected the index to fall between 1,310 and 1,320 due to various negative sentiments.
“Investors were concerned about the second Covid-19 wave as the number of new cases in the US is still rising, which may force the country to issue lockdown measures again,” the analyst said
“Meanwhile, the US may impose tariffs on goods worth US$3.1 billion imported from
Britain, France, Spain and Germany.”
The analyst said that the International Monetary Fund (IMF) had cut global gross domestic product forecast from contracting 3 per cent to contracting 4.9 per cent.
“Separately, the price of crude oil dropped sharply by over 5 per cent due to increasing US crude oil storage and uncertainty following the decline in demand if the second Covid-19 wave emerges,” the analyst said.
He recommended the following stocks:
▪ Defensive stocks, such as INTUCH,TTW, and DIF.
▪ Stocks that were added to the SET50 and SET100 calculations -- BPP, TTW, ACE, BFIT, DOHOME, RBF, SIRI, SISB, SPCG, TVO, and WHAUP.

The SET Index fell sharply by 23 points on Wednesday (June 24), or 1.70 per cent, closing at 1,333 due to uncertainty following the Bank of Thailand and the IMF cutting previous GDP forecasts and worries of a second Covid-19 wave.
Total transactions amounted to Bt60 billion. Foreign investors made net sales of Bt3.589 billion in stocks and Bt432 million in bonds. There were 9,004 net long TFEX SET50 contracts.