Saturday, January 16, 2021

SET extends gains after falling at previous close

Dec 03. 2020
Facebook Twitter

By The Nation

The Stock Exchange of Thailand (SET) Index rose by 6.29 points, or 0.44 per cent, to 1,424.24 in the morning session on Thursday.

An analyst at Krungsri Securities expected the day’s index to fluctuate between 1,410 and 1,430 points amid hopes for a US economic stimulus package, UK approval of Pfizer’s Covid-19 vaccine and a rising oil price.

“However, the SET would face volatility due to tight valuation as the index’s price-to-earnings ratio [P/E] was 28 times,” he predicted.

He advised investors to follow the Opec+ meeting as he expected the organisation to extend by three to six months the period of capping oil production at 7.7 million barrels.

“The extension will help tackle market oversupply and benefit oil prices and shares related to the oil business,” he added.

He recommended investors buy:

> PTTEP, PTTGC, TOP, IVL and SPRC that benefit from a rising oil price.

> Ichi, TKN, CBG and TNP that benefit from the “Khon La Khrueng” (Let’s Go Halves) scheme.

> MINT, CENTEL and AOT that benefit from positive news of a Covid-19 vaccine.

The SET Index closed at 1,417.95 on Wednesday, down 2.92 points, or 0.21 per cent. Total transactions amounted to Bt78 billion, with an index high of 1,430.49 points and a low of 1,415.10.

Tags:
Facebook Twitter
More in Business
Editor’s Picks
wmg-logo
Top News
wmg-logo