SET expected to fluctuate amid mixed sentiments
Krungsri Securities forecast the Stock Exchange of Thailand (SET) Index on Monday would fluctuate between 1,635 and 1,655 points.
It said the index gained positive sentiment from rising oil price of above US$83 per barrel, the government's move to lift the curfew in 17 provinces and the Bank of Thailand's move to relax loan-to-value (LTV) mortgage rule.
"However, the index would be under pressure due to uncertainty the US Federal Reserve signalling it would taper its quantitative easing in November and mass sell-offs of shares after the index hit the resistance line," 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.
▪︎ GULF, CHG, BCH, BDMS, KCE, PSL and TTA, whose third-quarter profit is expected to grow.
The SET Index rose by 0.28 points or 0.02 per cent to 1,643.70 on Monday morning, witnessing a high of 1,645.91 and a low of 1,643.18 in opening trade.
