Krungsri Securities expected the day’s index to rise to between 1,635 and 1,640 points before falling.
It said the index gained positive sentiment from the rising oil price in response to a decline in US oil storage and the Thai government’s move to reveal its timeline for reopening the country.
“However, we predict that investors would sell their shares to curb risks from the FTSE’s move to reduce weight in Thai stocks by approximately US$44 million [Bt1.4 billion],” Krungsri Securities said.
It recommended purchasing of the following companies’ shares as an investment strategy:
▪︎ PTT, PTTEP, TOP, PTTGC and SPRC, which benefit from the rising oil price.
▪︎ Hana, KCE, TU, CPF, GFPT, Asian, EPG, NER, Sun and APure, which benefit from a weakening baht.
▪︎ Banpu, Lanna, CKP, GPSC, Gulf and BDMS, whose third-quarter profit is expected to rise.
The SET Index closed at 1,628.04 on Wednesday, up 4.20 points or 0.26 per cent. Transactions totalled THB73.18 billion with an index high of 1,630.05 and a low of 1,620.84.
Published : September 16, 2021