Sat, October 16, 2021

business

SET Index set for see-saw ride today


The Stock Exchange of Thailand (SET) Index rose by 0.19 points or 0.01 per cent to 1,617.17 on Thursday morning, witnessing a high of 1,621.15 points and a low of 1,615.62 in opening trade.

Krungsri Securities predicted the day’s index would fluctuate between 1,610 and 1,630 points due to a lack of any new positive sentiment.

It said the index is currently under pressure due to uncertainty over rising US inflation and the Federal Reserve signalling it would taper its quantitative easing and raise the interest rate sooner than expected.

“However, mass buy-ups of stocks that gained specific positive sentiment and hopes over Thailand reopening after a decline in domestic Covid-19 infections would help boost the index,” Krungsri Securities said.

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

▪︎ Hana, KCE, TU, CPF, GFPT, Asian, NER, Sun and APure, which benefit from a weakening baht.

▪︎ Banpu, Lanna, DCC, Cotto and Tasco, which gained specific positive sentiment.

▪︎ PSL and TTA, which would benefit from a rise in the freight rate.

The SET Index closed at 1,616.98 on Wednesday, up 0.48 points or 0.03 per cent. Transactions totalled THB93.11 billion with an index high of 1,622.62 and a low of 1,604.46.

Published : September 30, 2021