SET expected to fluctuate amid worries over new Covid-19 wave in Europe, inflation
Krungsri Securities forecast the Stock Exchange of Thailand (SET) Index on Wednesday (November 24) would fluctuate between 1,635-1,655 points.
It said the index gained positive sentiment from rising oil price on the expectation that Opec+ would suspend its oil output hike plan to deal with several countries' move to release their oil reserves.
"However, uncertainty over fresh Covid-19 wave in Europe, the fall in US Purchasing Managers Index and inflation crisis would cause fund flow volatility, resulting in pressure on index," Krungsri Securities said.
It also recommended buying of the following companies’ shares as an investment strategy:
▪︎ HANA, KCE, TU, ASIAN, NER, EPG and XO, which benefit from the weakening baht.
▪︎ BBL, TTB, KTB, KBANK and BLA, which would benefit from the rising interest rate.
▪︎ BGRIM, GPSC and GULF, which will benefit from rising electricity tariff rate between January and April next year.
As of 10.20am, the SET Index rose by 7.15 points or 0.43 per cent to 1,653.57, witnessing a high of 1,655.49 and a low of 1,649.92 in opening trade.
