Saturday, July 24, 2021

business

SET expected to shed points amid Covid uncertainty, volatile funds flow


The Stock Exchange of Thailand (SET) Index rose by 6.30 points, or 0.40 per cent, to 1,585.47 on Tuesday morning.

The SET Index closed at 1,579.17 on Monday, down 3.50 points or 0.22 per cent. Transactions totalled THB68.83 billion with an index high of 1,581.34 and a low of 1,565.31.

Krungsri Securities predicted the SET Index would fall to 1,565 and 1,570 points due to uncertainty over the Covid-19 outbreak, especially in Asia and Britain.

It added that this negative sentiment had led to a fall in oil price.

"In addition, volatility in funds flow and Thailand Futures Exchange's move to roll over its future contracts would pressure the index," Krungsri Securities said.

It recommended that investors buy:

▪︎ HANA, KCE, TU, CPF, ASIAN and EPG, which benefit from the weakening baht.

▪︎ BCH, CHG, BDMS, HMPRO, BEM and CKP, whose second-quarter business turnover is expected to improve.

▪︎ KCE, IRPC, STA and STGT, which will be listed on the SET50 Index on Wednesday.

▪︎ AAV, ICHI, NRF, PSL, PTL, SINGER, STGT, SYNEX and TKN, which will be listed on the SET100 Index on Wednesday.

Published : June 29, 2021

By : The Nation