SET falls due to lack of positive sentiment, falling oil price
The Stock Exchange of Thailand (SET) Index dropped by 3.46 points, or 0.28 per cent, to 1,253.88 in morning session on Wednesday.
An analyst at Krungsri Securities expected the index to fall to the support line at 1,250 due to lack of positive sentiment and the sharp fall in oil price due to uncertainty over fuel demand amid the Covid-19 crisis.
"Meanwhile, uncertainty over market volatility from the expiration of SET's ceiling-floor adjustment, uptick rules and circuit breaker would pressure the index," he said.
As investment strategy, he recommended that investors buy:
▪︎ BANPU and AGE that benefit from rising coal price in response to China's strong demand.
▪︎ TU, ASIAN, COM7, CHG, PTG and PlanB whose third-quarter performance is expected to grow.
▪︎ DELTA, HANA, KCE and SMT that benefit from the weakening baht.
The SET Index closed at 1,257.34 on Tuesday, down 5.68 points or 0.45 per cent. The volume of total transactions was Bt38.20 billion with an index high of 1,267.67 and a low of 1,254.34.
