Fed meeting tempers positive sentiments driving SET
The Stock Exchange of Thailand (SET) Index rose by 1.21 points, or 0.08 per cent, to 1,601.70 on Thursday morning.
The SET Index closed at 1,600.49 on Wednesday, up 13.51 points or 0.85 per cent. Transactions totalled THB92.93 billion with an index high of 1,601.09 and a low of 1,588.37, as the SET rose for the fourth straight day.
Krungsri Securities expected the index on Thursday to rise to between 1,608 and 1,615 points amid positive sentiment of the Centre for Covid-19 Situation Administration considering easing lockdown measures and a plan to administer 100 million Covid-19 vaccine doses on citizens today.
It added that the index also gained positive sentiment from foreign funds inflows for the third straight day in response to the SET's "Thailand Focus 2021" virtual conference, which is being held until Friday.
"However, investors' mass sell-offs of stocks to prevent risk before the US Federal Reserve's annual meeting would pressure the index," Krungsri Securities said.
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 freight rated.
▪︎ PTT, PTTEP, TOP, PTTGC and BANPU, which benefit from rising oil price.
