FRIDAY, March 29, 2024
nationthailand

Lack of positive sentiment limits SET upside potential

Lack of positive sentiment limits SET upside potential

The Stock Exchange of Thailand (SET) Index rose by 3.84 points, or 0.30 per cent, to 1,276.18 in morning session on Tuesday.

An analyst at Krungsri Securities expected the index to fluctuate between 1,265 and 1,280 due to lack of positive sentiment.

In addition, investors would delay investment until the US Federal Open Market Committee meeting on September 15-16.

"We expect the Fed to maintain the interest rate at 0-0.25 per cent and reveal inflation targeting," he said.

Moreover, he said, the SET would face volatility from mass sell-offs in stocks to mitigate risks from student protesters' political rally on September 19.

He recommended that investors buy:

▪︎Stocks whose third-quarter performance will improve, such as TU, Asian, Com7, CHG, PTG, and PlanB.

▪︎Stocks that will benefit from the launch of the new iPhone model on Tuesday, such as Com7, Synex, SPVI and CPW.

The SET Index closed at 1,272.34 on Monday (September 14), down 7.62 points or 0.60 per cent. Total transactions amounted to Bt40.463 billion with an index high of 1,287.35 and a low of 1,270.59.

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