SET Index expected to rise, then fall today
The Stock Exchange of Thailand (SET) Index rose by 4.65 points or 0.29 per cent to 1,632.69 on Thursday morning, witnessing a high of 1,634.74 and a low of 1,631.23 in opening trade.
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.
Related stories:
- Baht strengthens a tad on opening
- Stocks gain the most in nearly 3 weeks; oil jumps
- SET Index rises on poor day for Asian stocks
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.
