SET likely to rise on higher oil price, govt’s economic relief measures
The Stock Exchange of Thailand (SET) Index dropped by 1.05 points or 0.07 per cent to 1,569.94 on Wednesday morning.
Krungsri Securities expected the day’s index to rise to between 1,575 and 1,585 points on a higher oil price and the government’s economic relief measures.
However, it forecast uncertainty after reports that the US Federal Reserve was considering the possibility of raising the interest rate to tackle increasing inflation, while the rise in domestic Covid-19 cases would pressure the index, it said.
It recommended investors buy:
▪︎ PTT, PTTEP and Banpu, which benefit from the rising oil price.
▪︎ Hana, KCE, TU, CPF, Asian and EPG, which benefit from a weakening baht.
▪︎ BCH, CHG, BDMS, HMPro, Global, DoHome, BEM, CKP, CBG, Ichi and GPSC, whose second-quarter business turnover is expected to improve.
The SET Index closed at 1,570.99 on Tuesday, up 21.15 points or 1.36 per cent. Transactions totalled THB75.22 billion with an index high of 1,571.82 and a low of 1,555.88.
