SET gains, but worries over Covid-19, foreign fund flows cast shadow
The Stock Exchange of Thailand (SET) Index rose by 4.05 points or 0.26 per cent to 1,563.28 in the morning session on Wednesday. The volume of transactions was THB5.84 billion, with an index high of 1,567 and a low of 1,563.14.
A Krungsri Securities analyst forecast that the SET index would fluctuate between 1,550 and 1,570 points as investors awaited the outcome of an important US Federal Reserve meeting.
The Fed is expected to maintain the interest rate at 0.25 per cent and continue its quantitative easing policy.
“Meanwhile, uncertainty over higher Covid-19 cases in Thailand and volatility in foreign fund flows would pressure the index,” the analyst predicted.
He recommended investors buy:
▪︎ PSL, TTA and RCL, which would benefit from a rise in the freight rate.
▪︎ PTTEP, PTTGC and IVL, which benefit from the rising oil price.
▪︎ PTTGC, IVL, EPG, SCGP, SCC, CPF, BCH, CHG, STGT, Global, DoHome, CoM7, Synex, Stark and TWPC, whose first-quarter turnover is expected to improve.
The SET Index closed at 1,559.23 on Tuesday, down 0.30 points or 0.02 per cent. The volume of total transactions was THB97.52 billion, with an index high of 1,570.58 and a low of 1,553.03.
