SET expected to fluctuate ahead of ECB and Fed meetings
Krungsri Securities forecast the Stock Exchange of Thailand (SET) Index on Wednesday (October 27) would fluctuate between 1,625 and 1,645 points.
It said the index gained positive sentiment from rising oil price in line with economic recovery and mass buy-ups of stocks whose third-quarter profit is expected to grow.
"However, investors' mass sell-offs of stocks to escape risk before the meeting of the European Central Bank on October 28 and Federal Reserve on November 2-3 would pressure the index," Krungsri Securities said.
It also recommended buying of the following companies’ shares as an investment strategy:
▪︎ PTT, PTTEP, TOP, PTTGC, SPRC and BCP, which benefit from rising oil price and gross refining margin.
▪︎ GULF, CHG, BCH, BDMS, KCE, JMT, PSL, TTA, BANPU and LANNA, whose third-quarter profit is expected to grow.
▪︎ HMPRO, CPALL, TNP and KK, which benefit from the government's economic stimulus measures.
The SET Index fell by 4.05 points or 0.25 per cent to 1,631.92 on Wednesday morning, witnessing a high of 1,633.57 and a low of 1,630.38 in opening trade.
