SET expected to fluctuate despite the rise in oil price
The Stock Exchange of Thailand (SET) Index rose by 0.44 points or 0.03 per cent to 1,614.92 on Tuesday morning, witnessing a high of 1,617.09 and a low of 1,611.42 in opening trade.
Krungsri Securities predicted the day's index would fluctuate between 1,605 and 1,625 points despite rising oil price after the Opec+ panel recommended proceeding with gradual supply hikes.
It added that the index also gained positive sentiment from rising coal price and hopes over Thailand reopening after the domestic Covid-19 cases continued to decline.
"However, uncertainty over higher inflation that would trigger the US Federal Reserve to taper its quantitative easing and raise the interest rate sooner than expected would pressure the index's fund flow," Krungsri Securities said.
It also recommended buying of the following companies’ shares as an investment strategy:
▪︎ PTT, PTTEP, TOP, PTTGC, SPRC and IVL, which benefit from rising oil price.
▪︎ Banpu and Lanna, which benefit from rising coal price.
▪︎ AOT, KBank, SCB, BBL, CPN, CRC, HMPro, AAV, BA, MINT, Amata and WHA, which benefit from the country reopening.
The SET Index closed at 1,614.48 on Monday, up 9.31 points or 0.58 per cent. Transactions totalled 78.69 billion baht with an index high of 1,619.62 and a low of 1,610.96.
