A Krungsri Securities analyst forecast that the SET Index would fall to between 1,530 and 1,540 due to uncertainty over the rising number of Covid-19 cases in Thailand and outflow of foreign funds.
He added that foreign investors had made net sales of shares for five consecutive days worth approximately THB8.7 billion.
"However, the index would rebound from investors' move to speculate on stocks with positive sentiment and whose first-quarter performance is likely to show improvement," he said.
He advised investors to follow the US Federal Reserve meeting on April 27-28, as the Fed was likely to maintain the interest rate at 0.25 per cent and continue using quantitative easing.
He recommended that investors buy:
▪︎ PSL, TTA and RCL, which would benefit from a rise in the freight rate.
▪︎ HANA, KCE, TU, CPF and EPG, which benefit from the weakening baht.
▪︎ PTTGC, IVL, EPG, SCGP, SCC, CPF, BCH, CHG, STGT, GLOBAL, DOHOME, COM7, SYNEX, STARK and TWPC, whose fourth-quarter turnover is expected to improve.
The SET Index closed at 1,553.59 on Friday, down 14.62 points or 0.93 per cent. The volume of total transactions was THB86.15 billion with an index high of 1,564.62 and a low of 1,550.62.
Published : April 26, 2021
By : The Nation