SET falls slightly over higher Covid-19 cases, foreign fund flow volatility
The Stock Exchange of Thailand (SET) Index fell by 4.37 points or 0.28 per cent to 1,578.76 at 10.06am on Wednesday. The volume of total transactions was THB8.22 billion with an index high of 1,583.27 and a low of 1,577.41.
Krungsri Securities expected the day’s index to rebound to between 1,590 and 1,595 from mass buy-ups of energy and petroleum shares as the oil price rose to $66 per (Bt2,054) barrel, while their first-quarter performance is expected to improve.
It added that the index also gained positive sentiment from hopes over an economic recovery after the US and Europe eased lockdowns.
“However, uncertainty over the higher number of Covid-19 cases in Thailand and volatility in foreign fund flows would pressure the index,” it said.
The securities company advised investors to follow the outcome of the Bank of Thailand’s Monetary Policy Committee meeting on Wednesday amid expectations that the interest rate would be maintained at 0.5 per cent.
It recommended investors buy:
▪︎ PTT, PTTEP, PTTGC and IVL, which benefit from the rising oil price.
▪︎ PSL, TTA and RCL, which would benefit from a rise in the freight rate.
▪︎ PTTGC, IVL, EPG, CPF, BCH, CHG, STGT, DoHome, Com7, Synex, Stark and TWPC, whose first-quarter turnover is expected to improve.
The SET Index closed at 1,583.13 on Friday, down 7.33 points or 0.46 per cent. Total transactions amounted to THB85.48 billion with an index high of 1,593.23 and a low of 1,580.74.
The index was closed on Monday and Tuesday for Labour Day and Coronation Day, respectively.