Krungsri Securities predicted the index would fall between 1,555 and 1,560 points due to rising US inflation after the country’s Consumer Price Index in April was higher than expected, which has triggered worries that the Federal Reserve would hike the interest rate and reduce its quantitative easing programme.
The index would be under pressure due to a weakening baht, foreign fund outflows and the SET’s move to impose cash-balance regulations on Delta Electronics shares, Krungsri Securities added.
“However, mass buy-ups of stocks that gain positive sentiment and whose first-quarter performance is likely to improve would help boost the index,” it predicted.
It recommended investors buy:
▪︎ PTT, PTTEP, PTTGC and IVL, which benefit from the rising oil price.
▪︎ Hana, KCE, SMT, TU and CPF, which benefit from the weakening baht.
▪︎ EPG, CPF, BCH, CHG, TWPC and Wice, whose first-quarter turnover is expected to improve.
The SET Index closed at 1,571.85 on Wednesday, down 7.08 points or 0.45 per cent. The volume of total transactions was THB117.16 billion with an index high of 1,578.34 points and a low of 1,557.94.
Published : May 13, 2021
By : The Nation