Mon, December 06, 2021

business

SET expected to rise on hopes over the country reopening before falling


Krungsri Securities expected the Stock Exchange of Thailand (SET) Index on Friday would rise to between 1,645 and 1,650 points before falling.

It said the index gained positive sentiment from rising oil price in line with tight oil supplies, as well as mass buy-ups of stocks that benefit from the country reopening after the government planned to ease lockdown measures and allow foreign travellers to enter the country on November 1.

"However, the index would be under pressure as some investors would sell their stocks to cope with risk of 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 9.04 points or 0.55 per cent to 1,650.01 on Friday morning, witnessing a high of 1,650.47 and a low of 1,645.17 in opening trade.

 

 

 

 

 

 

Published : October 15, 2021

By : THE NATION