Volatile foreign funds likely to temper positive sentiment in Thai bourse
The Stock Exchange of Thailand (SET) Index rose by 7.06 points, or 0.43 per cent, to 1,632.33 on Friday morning. The volume of total transactions was THB14.42 billion with an index high of 1,635.22 and a low of 1,631.17.
The SET Index had closed at 1,625.27 on Thursday, down a point or 0.06 per cent. Transactions totalled THB105.96 billion with an index high of 1,636.22 and a low of 1,623.57.
Krungsri Securities predicted that the SET Index on Friday would fluctuate between 1,615 and 1,635 points amid hopes of a Thai economic revival after the mass vaccination drive took off nationwide.
The index also gained positive sentiment from wide expectations that the US Federal Reserve would not raise its interest rate during the meeting on June 15-16 despite the rise in the country's Consumer Price Index in May.
"The index, however, would be under pressure due to the volatility in foreign funds flow and signs of overbought stocks," Krungsri Securities said.
It recommended that investors buy:
▪︎ PTT, PTTEP, PTTGC, TOP, IVL, BANPU, PSL and TTA, which benefit from a global economic recovery.
▪︎ BCH, CHG, BDMS, MINT, CENTEL, ERW, AOT, CPALL, HMPRO, CPN, CRC, AAV, AMATA and WHA, which would benefit from the country's reopening.
▪︎ KCE, IRPC, STA and STGT, expected to be listed on the SET50 Index in mid-June.
▪︎ AAV, BLA, ICHI, PSL, PTL, SINGER, STARK, STGT and SYNEX, expected to be listed on the SET100 Index in mid-June.
