SET Index may dip on foreign fund outflows, rising US virus infections, falling oil price
The Stock Exchange of Thailand (SET) Index fell by 1.88 points or 0.11 per cent to 1,634.57 on Wednesday morning, witnessing a high of 1,635.16 and a low of 1,632.13 in opening trade.
Krungsri Securities predicted the day’s index would fall to between 1,625 and 1,630 points due to foreign fund outflows, uncertainty amid a big rise in Covid-19 infections in the US as the Delta variant wreaks havoc there, and the falling oil price.
However, Krungsri Securities said the index would rebound from news that the government may suspend its Emergency Decree on Friday, as well as mass buy-ups of shares that gained specific positive sentiment.
It recommended purchasing of the following companies’ shares as an investment strategy:
▪︎ AOT, KBank, BBL, CPN, CRC, HMPro, AAV, BA, Mint, Amata and WHA, which benefit from the country’s reopening.
▪︎ Banpu, Lanna, CKP, GPSC, GULF, BCPG and BDMS, whose third-quarter profit is expected to rise.
▪︎ Hana, KCE, TU, CPF, GFPT, Asian, EPG, NER, Sun and APure, which benefit from a weakening baht.
The SET Index closed at 1,636.45 on Tuesday, down 11.92 points or 0.72 per cent. Transactions totalled THB101.82 billion with an index high of 1,658.08 and a low of 1,635.11.