Thursday, March 04, 2021

Rising oil price, fresh demand for shares boost SET

Feb 23. 2021
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By The Nation

The Stock Exchange of Thailand (SET) Index rose by 13.62 points, or 0.92 per cent, to 1,491.76 in the morning session on Tuesday.

A Krungsri Securities analyst expected the day's index to fluctuate between 1,470 and 1,490 due to rising US Treasury yield which caused uncertainty over several central banks' move to stop implementing measures to stimulate the economy.

"However, rising oil price and mass buy-ups of shares would help boost the SET," he said.

He recommended buying:

▪︎ IVL, SPRC, ESSO, ROJNA, TVO, HTC, CPF, RCL, COM7, WICE, JMT, JMART, SAWAD, AH, and CHG, whose fourth-quarter performance in 2020 was expected to improve.

▪︎ PSL, TTA and RCL, which would benefit from a rise in the freight rate.

The SET Index closed at 1,478.14 on Monday, down 22.37 points or 1.49 per cent. The volume of total transactions was Bt89.8 billion with an index high of 1,505.47 and a low of 1,476.50.

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