Fri, September 24, 2021

business

Stock buy-ups, hopes over lockdown easing may beef up SET Index


The Stock Exchange of Thailand (SET) Index rose by 3.94 points or 0.26 per cent to 1,546.56 on Wednesday morning.

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Krungsri Securities predicted the index would fluctuate between 1,530 and 1,550 points amid hopes of the lockdown being eased as domestic Covid-19 cases are seen to be declining.

It added that mass buy-ups of stocks related to export, and stocks of companies whose second-quarter business turnover is expected to improve, would help boost the index.

“However, the falling oil price and outflow of foreign funds would pressure the index,” Krungsri Securities said.

It advised investors to follow the US Consumer Price Index for July as consensus expectation is that it would rise by 4.3 per cent year on year.

It recommended selective buying of the following companies’ shares as an investment strategy:

▪︎ Hana, KCE, TU, CPF, GFPT, Asian, EPG, Sun and NER, which benefit from a weakening baht.

▪︎ BCH, CHG, DoHome, CKP, CBG, OSP, Ichi, BEC, Gunkul, JWD, Wice, Sonic, TTA, RCL and Lanna, whose second-quarter business turnover is expected to improve.

The SET Index closed at 1,542.62 on Tuesday, up 2.43 points or 0.16 per cent. Transactions totalled THB81.61 billion with an index high of 1,551.61 and a low of 1,539.40.

Published : August 11, 2021

By : The Nation