THURSDAY, March 28, 2024
nationthailand

SET Index expected to fluctuate

SET Index expected to fluctuate

The Stock Exchange of Thailand (SET) Index would fluctuate between 1,650 and 1,670 points on Thursday, Krungsri Securities predicted.

It said uncertainty over the US Federal Reserve’s move to raise the interest rate to tackle inflation, resulting in a rising 10-year bond yield, is still pressuring the index.

“However, rising oil prices, foreign fund inflows, speculation on shares of companies whose business turnover in 2021 is expected to improve, and signs of oversold stocks would help boost the index,” Krungsri Securities said.

It recommended investors purchase the following companies’ shares:

• PTTEP, Top, PTTGC, IVL and SPRC, which benefit from a rising oil price and gross refining margin.

• BBL, TTB, KBank, KTB and BLA, which benefit from news of an interest rate hike.

• AOT, Mint, Centel, ERW, AAV, which would benefit from the Cabinet’s move to consider implementing the fourth phase of the “Rao Tiew Duay Kan” (We Travel Together) tourism promotion scheme next week.

The SET Index closed at 1,658.24 on Wednesday, down 2.03 points or 0.12 per cent. Transactions totalled 96.18 billion baht, with an index high of 1,667.44 and a low of 1,653.38.

The top five stocks with the highest trade value were KBank, True, PTT, PTTEP and SCB.

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