SET expected to fluctuate from the lack of new factors
Krungsri Securities forecast the Stock Exchange of Thailand (SET) Index on Wednesday would fluctuate between 1,620 and 1,640 points.
It said the index would indicate negative sentiment from the lack of new factors, including a sales force to adjust the port after the index failed to pass the previous high of 1,660 points and the International Monetary Fund’s (IMF) forecast of the drop of Thai GDP in 2021 and 2022.
"However, the crude oil prices that remain at a high level, including the expected recovery of Thai economy from the country’s opening will help support the index to rebound," Krungsri Securities said.
It also recommended buying of the following companies’ shares as an investment strategy:
- AOT, 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.
The SET Index rose by 3.54 points or 0.22 per cent to 1,633.93 on Wednesday morning, witnessing a high of 1,636.08 and a low of 1,632.62 in opening trade.
