Influx of foreign funds keeps SET on upward trajectory
The Stock Exchange of Thailand (SET) Index rose by 5.73 points, or 0.40 per cent, to 1,444.05 in the morning session on Friday.
An analyst at Krungsri Securities expected the day's index to hit 1,445 points as foreign funds are still flowing into the Thai stock market amid hopes of a US economic stimulus package, positive news of a Covid-19 vaccine and rising oil price after Opec+ decided to extend the cap on oil production.
"However, we advise investors to speculate on profit in the short term as the index's price-to-earnings ratio is 28 times," he said.
He recommended that investors buy:
▪︎ PTTEP, PTTGC, TOP, IVL and SPRC that will benefit from rising oil price.
▪︎ ICHI, TKN, CBG and TNP that benefit from the givernment's “Khon La Khrueng” (Let's Go Halves) subsidy scheme.
▪︎ MINT, CENTEL and AOT that benefit from positive news of a Covid-19 vaccine.
The SET Index closed at 1,438 on Thursday, up 20.37 points or 1.44 per cent, with total transactions amounting to Bt83 billion due to mass buy-ups in large-cap stocks in response to the UK's approval of Pfizer’s Covid-19 vaccine.
