Fri, September 24, 2021

business

SET gets a lift from hopes of lockdown being eased


The Stock Exchange of Thailand (SET) Index rose by 6.49 points, or 0.41 per cent, to 1,593.47 on Wednesday morning.

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The SET Index closed at 1,586.98 on Tuesday, up 4.91 points or 0.31 per cent. Transactions totalled THB100.70 billion with an index high of 1,598.39 and a low of 1,585.46.

Krungsri Securities forecast the index on Wednesday would fluctuate between 1,580 and 1,600 points amid hopes that the lockdown would be eased due to a decline in domestic Covid-19 cases, as well as the rising oil price.

However, it predicted that the index would be under pressure due to investors' mass sell-offs of shares to prevent risks before the US Federal Reserve's annual meeting, as well as risk at the resistance level of 1,600 points.

It recommended selective buying as an investment strategy:

▪︎ AOT, CPN, CRC, HMPRO, AAV, BA, MINT, CENTEL, AMATA and WHA, which would benefit from the country's reopening.

▪︎ PSL, TTA and RCL, which would benefit from a rise in the freight rate.

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

Published : August 25, 2021

By : The Nation