SET Index up, expected to rise further
The Stock Exchange of Thailand (SET) Index rose by 9.49 points, or 0.64 per cent, to 1,495.74 in the morning session on Wednesday.
The SET Index is expected to rise to between 1,495 and 1,500 points on hopes that US economic relief measures will be rolled out, together with the decline in US Covid-19 cases, said a Krungsri Securities analyst.
He said the index gained positive sentiment from the rising oil price after the Opec+ bloc decided to maintain its oil production agreement.
“However, investors should beware of volatility due to the outflow of foreign funds and the index’s resistance level of 1,500 points,” he said.
He recommended investors buy:
▪︎ PTTGC, TOP, IVL, EPG, VNT, CBG, Rojna, TVO, STGT, CPF, RCL, PSL, SYNEX, Com7, XO, Wice, JMT, JMART, Singer, MTC, Sawad and KCE, whose fourth-quarter turnover is expected to improve.
▪︎ Advanc, INTUCH, AP, Siri and WHAUP, which pay high dividends.
The SET Index closed at 1,486.25 on Tuesday, up 8.20 points, or 0.55 per cent. Total transactions amounted to Bt77.03 billion, with an index high of 1,496.46 points and a low of 1,480.50.