SET Index falls in opening session
The Stock Exchange of Thailand (SET) Index fell by 3.55 points, or 0.28 per cent, to 1,246.60 in the morning session on Wednesday.
An analyst at Krungsri Securities expected the index to fluctuate sideways between 1,240 and 1,260 points despite positive sentiment over the rising oil price and the Centre for Economic Situation Administration aiming to discuss measures to stimulate expenses during the latter part of the year.
“The postponement of US economic stimulus bill negotiations until after the presidential election and foreign investors’ mass share sell-offs will pressure the index,” he said.
He recommended investors buy shares of:
> PTTEP, Top and PTTGC, that benefit from the rising oil price.
> Banpu and Age, that benefit from a rising coal price in response to strong Chinese demand.
> TU, PlanB, STGT and Com7, whose third-quarter performance is expected to grow.
The SET Index closed at 1,250.15 on Tuesday, up 7.16 points, or 0.58 per cent. Total transactions amounted to Bt56.52 billion, with an index high of 1,257.46 points and a low of 1,249.14.
