Sunday, July 25, 2021

business

Limited upside for SET amid foreign funds outflow and Covid crisis


The Stock Exchange of Thailand (SET) Index rose by 3.49 points, or 0.22 per cent, to 1,555.93 at 10am on Monday. The volume of total transactions was THB8.46 billion with an index high of 1,559.60 and a low of 1,554.27.

Krungsri Securities forecast the SET Index on Monday would fluctuate between 1,545 and 1,565 points despite hopes of an economic recovery after the US and Europe showed strong economic data, especially the Purchasing Managers Index in both manufacturing and services.

It said the index would be under pressure due to the outflow of foreign funds, the US Federal Reserve's move to raise the interest rate and Thailand's rising Covid-19 cases.

It recommended that investors buy:

▪︎ BDMS, BCH and CHG, which gained positive sentiment from mass vaccination.

▪︎ SCGP, IRPC and COM7, which will be listed on the MSCI Index on May 27.

▪︎ OR, SCGP, KEX, JR, NEX, NRF, RT, SA and SO, which will be listed on the FTSE Index on June 18.

 

The SET Index closed at 1,552.44 on Friday, down 2.10 points or 0.14 per cent. Total transactions amounted to THB80.93 billion with an index high of 1,560.51 and a low of 1,546.55, as the index fell for a third straight day.

Published : May 24, 2021

By : The Nation