Wednesday, June 16, 2021

business

SET Index expected to maintain upward trajectory


The Stock Exchange of Thailand (SET) Index rose by 3.29 points, or 0.21 per cent, to 1,588.32 at 10.12am on Monday. The volume of total transactions was THB20.05 billion with an index high of 1,596.80 and a low of 1,588.32.

Krungsri Securities forecast that the SET Index would fluctuate in an upward trajectory between 1,590 and 1,600 points amid uncertainty over US interest rate. The US Federal Reserve's move to raise the interest rate was set back by US non-farm payroll increasing lesser than expected, while the country's unemployment rate rose to 6.1 per cent.

Krungsri added that energy and petrochemical stocks gained positive sentiment after oil price rose to over $65 per barrel.

"However, investors should beware of mass sell-offs of shares due to uncertainty over Thailand's high number of Covid-19 cases," Krungsri Securities said.

It recommended that investors buy:

▪︎ PTT, PTTEP, PTTGC and IVL, which benefit from the rising oil price.

▪︎ BDMS, BCH and CHG, which gained positive sentiment from the import of Covid-19 vaccine.

▪︎ PTTGC, EPG, CPF, BCH, CHG, STGT, STA, DOHOME, COM7, SYNEX, STARK, TWPC and WICE, whose first-quarter turnover is expected to improve.

 

The SET Index closed at 1,585.03 on Friday, up 13.12 points or 0.83 per cent. Total transactions amounted to THB93.87 billion with an index high of 1,589.21 and a low of 1,577.19.

Published : May 10, 2021

By : The Nation