Wed, October 27, 2021

business

SET expected to rise on hopes over the country reopening


The Stock Exchange of Thailand (SET) Index rose by 10.69 points or 0.65 per cent to 1,644.13 on Tuesday morning, witnessing a high of 1,646.58 and a low of 1,643.14 in opening trade.

Krungsri Securities expected the day's index would rise to the resistance line between 1,645 and 1,660 points after the government announced to allow fully vaccinated travellers from low-risk countries to enter the country without mandatory quarantine from November 1 this year.

It added that the index also gained positive sentiment from the rising oil price of over US$80 per barrel.

"However, investors should beware of mass sell-off of shares to escape risk of uncertainty over the US Federal Reserve signalling it would taper its quantitative easing programme," Krungsri Securities said.

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

▪︎ AOT, AAV, BA, MINT, KBANK, SCB, CPN, CRC, HMPRO, CPALL, AMATA, WHA, MAJOR, BTS and BEM, which benefit from the country reopening.

▪︎ PTT, PTTEP, TOP, PTTGC, SPRC, BCP and IVL, which benefit from rising oil price and gross refining margin.

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The SET Index closed at 1,633.44 on Monday, down 5.97 points or 0.36 per cent. Transactions totalled 82.97 billion baht with an index high of 1,646.50 and a low of 1,629.95.

Published : October 12, 2021

By : THE NATION