Limited upside for SET despite positive sentiment


The Stock Exchange of Thailand (SET) Index rose by 3.38 points, or 0.21 per cent, to 1,637.14 on Tuesday morning, witnessing a high of 1,640.40 and a low of 1,637.09 in opening trade.

The SET Index closed at 1,633.76 on Monday, down 1.59 points or 0.10 per cent. Transactions totalled THB86.15 billion with an index high of 1,642.63 and a low of 1,627.29.

Krungsri Securities forecast the index on Tuesday would fluctuate between 1,625 and 1,645 points despite positive sentiment of a rise in neighbouring stock markets and oil price, plus a decline in domestic Covid-19 infections.

It predicted uncertainty over volatility in fund flow, and the US Federal Reserve's move to taper its quantitative easing programme sooner than expected would pressure the index.

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

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

▪︎ HANA, KCE, TU, CPF, GFPT, ASIAN, EPG, NER, SUN and APURE, which benefit from the weakening baht.

▪︎ COM7, SYNEX, SPVI and CPW, which benefit from Apple's move to launch iPhone 13 on Tuesday.