By The Nation
An analyst at Krungsri Securities expected the index to fluctuate between 1,285 and 1,300 points.
The index gained positive sentiment from the US Federal Reserve’s move to maintain the interest rate at 0-0.25 per cent for three years until 2023 and increase its Gross Domestic Product forecast from minus 6.5 per cent to minus 3.7 per cent.
Also, the price of oil rose more than 4 per cent as US oil stocks dropped by 4.4 million barrels, much more than the 1.8 million barrels expected by the market, while Hurricane Sally caused US oil production in the Gulf of Mexico to drop as much as 27.5 per cent.
However, the analyst said the US Fed’s gloomy long term economic forecast and the student political rally scheduled for Saturday (September 19) in Thailand will pressure the index.
He recommended investors buy:
> Stocks whose third-quarter performance would improve, such as TU, Asian, Com7, CHG, PTG and PlanB.
> Stocks that benefit from the rising oil price, such as PTTEP, Top and PTTGC.
The SET Index closed at 1,293.48 yesterday, up 7.30 points, or 0.57 per cent. Total transactions amounted to Bt52.70 billion, with an index high of 1,295.80 points and a low of 1,284.09.