Wed, October 27, 2021

business

SET expected to rise on country reopening, rising oil price


Krungsri Securities expected the Stock Exchange of Thailand (SET) Index on Thursday would rise to the resistance line between 1,650 and 1,660 points on the government plan to reopen the country.

According to the government's plan, ully vaccinated travellers from low-risk countries will be allowed 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, the index would be under pressure due to rising US September Consumer Price Index (CPI) and the US Federal Reserve signalling it would taper its quantitative easing programme this year," 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 and BCP, which benefit from rising oil price and gross refining margin.

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The SET Index rose by 3.40 points or 0.21 per cent to 1,647.04 on Thursday morning, witnessing a high of 1,648.62 and a low of 1,643.74 in opening trade.

Published : October 14, 2021

By : THE NATION