SET gains from mass buy-ups, easing of Covid measures, rising oil prices
The Stock Exchange of Thailand (SET) Index is expected to fluctuate between 1,670 and 1,685 points on Tuesday, Krungsri Securities said.
It said the index gained positive sentiment from mass buy-ups of company shares that are expected to grow based on their business turnover last year, the Centre for Covid-19 Situation Administration's move to ease disease prevention measures this week and rising oil prices.
"However, the index will be under pressure due to uncertainty over the US Consumer Price Index [CPI] in January which is expected to rise by 7.3 per cent year on year and could trigger the Federal Reserve to raise the interest rate sooner," Krungsri Securities said.
"The January CPI will be announced on February 10," it added.
It recommends the purchase of the following as an investment strategy:
• BBL, KBANK, KTB, BLA and THREL will benefit from news of the US interest rate hike.
• PTTEP, TOP, PTTGC, IVL, SPRC and BCP will benefit from the rising price of oil and gross refining margin.
• IVL, TOP, SPRC, GULF, BANPU, TU, CPF, SPALI, ORI, WHA, AMATA, HMPRO, CPN, CRC, BLA, JMT, SINGER, JMART, WICE, NER, ITEL, XO, ASK, UBE, FORTH, TH and SNNP are expected to grow based on their business turnover last year.
The SET Index closed at 1,677.24 on Monday, up 3.02 points or 0.18 per cent. Transactions totalled 76 billion baht with an index high of 1,681.17 and a low of 1,667,29.
