Friday, June 25, 2021

business

Mass sell-off of bank shares pulls SET down


The Stock Exchange of Thailand (SET) Index dropped by 1.16 points, or 0.08 per cent, to 1,512.35 in the morning session on Friday.

1,433

View

An analyst at Krungsri Securities expected the index to fall to between 1,500 and 1,505 points despite the Bangkok Metropolitan Administration's move to allow 13 types of business to reopen in Bangkok.

"The index will be under pressure due to a decline in foreign fund inflow and mass sell-offs of bank shares [KTB, SCB and BBL] after their fourth-quarter performance was worse than expected," he said.

He recommended investors to buy:

• PTTGC, TOP, IVL, EPG, VNT, SCGP, CBG, ROJNA, TVO, STGT, CPF, RCL, PSL, SYNEX, COM7, XO, WICE, JMT, MTC, SAWAD and KCE, as their fourth-quarter turnover is expected to improve.

• ADVANC, INTUCH, AP, SIRI and WHAUP, as they pay high dividends.

The SET Index closed at 1,513.98 on Thursday, down 1.74 points or 0.11 per cent. Total transactions amounted to Bt91.98 billion with an index high of 1,529.27 and a low of 1,510.80 due to mass sell-offs of low free-float stocks (DELTA and KTC) and uncertainty over the decline in fund inflow.

Published : January 22, 2021

By : The Nation