Tuesday, June 22, 2021

business

SET gains 0.68% on Fed decision, rising oil price


The Stock Exchange of Thailand (SET) Index rose by 10.72 points or 0.68 per cent to 1,587.51 as of 10.07am on Thursday. The volume of transactions was THB11.24 billion, with an index high of 1,588.64 and a low of 1,583.98.

A Krungsri Securities analyst expected the index to rise to between 1,585 and 1,590 points in response to the US Federal Reserve’s decision to maintain the interest rate at 0.25 per cent and continue its quantitative easing policy.

He added that shares related to the energy sector gained positive sentiment from the rising oil price.

“Mass buy-ups of stocks that gain positive sentiment and whose first-quarter performance is likely to improve would help boost the index,” he said.

“However, we advise investors to follow reports on Thailand’s daily Covid-19 cases as the index would be under pressure if the number rises.”

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, 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 1,576.79 on Wednesday, up 17.56 points or 1.13 per cent. The volume of total transactions was THB94.64 billion, with an index high of 1,578.62 and a low of 1,562.84.

Published : April 29, 2021

By : The Nation