SET boosted by hopes of economic recovery but exit of foreign funds limits upside
The Stock Exchange of Thailand (SET) Index rose by 11.41 points, or 0.74 per cent, to 1,563.26 at 10am on Tuesday. The volume of total transactions was THB4.56 billion with an index high of 1,564.70 and a low of 1,561.56.
Krungsri Securities predicted the day's index to fluctuate between 1,545 and 1,560 points despite hopes of an economic recovery, as many countries launch mass vaccination campaigns.
It added that energy and petrochemical shares, meanwhile, gained positive sentiment from the rising oil price.
However, uncertainty over the MSCI's move to reduce investment in Thai shares by 0.1 per cent on May 27 and the outflow of foreign funds would pressure the index, Krungsri Securities said.
It recommended that investors buy:
▪︎ BDMS, BCH and CHG, which gained positive sentiment from the mass vaccination.
▪︎ SCGP and CBG, 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 1,551.85 on Monday, down 0.59 points or 0.04 per cent. The volume of total transactions was THB78.74 billion with an index high of 1,559.60 and a low of 1,547.14.