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.
Published : October 25, 2021
By : THE NATION