Thursday, October 22, 2020

SET rises in line with other indices

Sep 28. 2020
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By The Nation

The Stock Exchange of Thailand (SET) Index rose by 8.88 points, or 0.71 per cent, to 1,253.82 in the morning session on Monday.

An analyst at Krungsri Securities expected the index to rise to between 1,255 and 1,260 in response to the rise in other indices after falling for five consecutive days.

He said the S&P500 and Nasdaq rose by 1.6 per cent and 2.3 per cent respectively, while the domestic political situation was not expected to escalate.

"However, the political situation would pressure the index in October," he said.

For investment strategy, he recommended that investors buy:

▪︎ Stocks that were involved in block trade, such as KTC, ICHI and TKN.

▪︎ Stocks that would benefit from a Covid-19 vaccine development, such as AOT, CENTEL, MINT and ERW.

▪︎ Stocks that benefit from the rising Baltic Dry Index, such as TTA and PSL.

The SET Index closed at 1,244.94 on Friday, down 2.52 points or 0.20 per cent. Total transactions amounted to Bt45.62 billion with an index high of 1,256.40 and a low of 1,241.66.

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