Thu, October 28, 2021

business

Falling oil price, new Covid-19 wave expected to pressure SET


The Stock Exchange of Thailand (SET) Index rose by 3.13 points, or 0.20 per cent, to 1,574.17 in the morning session on Friday.

A Krungsri Securities analyst expected the index to fluctuate between 1,560 and 1,580 despite positive sentiment that US jobless claims had fallen to the lowest level during the Covid-19 pandemic.

He said the falling oil price amid uncertainty over the new Covid-19 wave in Europe and India, plus volatility in funds flows would pressure the index.

He recommended that investors buy:

▪︎ EA and GPSC, which will benefit from news that Thailand will stop sales of fossil fuel vehicles by 2035 and go solely for electric vehicles.

▪︎ HANA, KCE, TU and CPF, which benefit from the weakening baht.

▪︎ ICHI, SAPPE, RBF, DOD, IP, TACC, GUNKUL, KISS, ZIGA and PTG, which benefit from positive news on hemp production and its general use.

▪︎ ADVANC, INTUCH and DTAC, which pay high dividends.

The SET Index closed at 1,571.04 on Thursday, up 0.21 points or 0.01 per cent. Total transactions amounted to Bt93 billion with an index high of 1,580.17 and a low of 1,571.04.

Published : March 26, 2021

By : The Nation