Mon, December 06, 2021

business

SET expected to get a lift from rise in oil price


The Stock Exchange of Thailand (SET) Index fell by 1.63 points, or 0.10 per cent, to 1,592.12 on Friday morning.

The SET Index closed at 1,593.75 on Thursday, up 5.96 points or 0.38 per cent. Transactions totalled THB81.32 billion with an index high of 1,596.36 and a low of 1,584.69.

Krungsri Securities expected the day's index to rise to 1,600 points after oil price rose to over US$75 per barrel following Opec+ signalling it may gradually increase oil output this year.

Krungsri added that the index also gained positive sentiment from falling US jobless claims.

However, investors should beware of volatility in foreign funds flow and uncertainty over higher Covid-19 cases in Thailand, as it would pressure the index, Krungsri Securities said.

It also advised investors to follow the Opec+ meeting, as oil output is expected to increase by 400,000 barrels per day from August to December.

It recommended that investors buy:

▪︎ PTT, PTTEP and TOP, which benefit from the rising oil price.

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

▪︎ BCH, CHG, BDMS, HMPRO, BEM, CKP, CBG, ICHI, PSL and TTA, whose second-quarter turnover is expected to improve.

Published : July 02, 2021

By : The Nation