FRIDAY, March 29, 2024
nationthailand

SET Index to get a ‘boost’ from mass share buy-ups but still see ‘volatility’

SET Index to get a ‘boost’ from mass share buy-ups but still see ‘volatility’

The Stock Exchange of Thailand (SET) Index is expected to rise to the resistance level between 1,708 and 1,710 points on Thursday after the US Federal Reserve signalled it would not raise the interest rate immediately, Krungsri Securities said.

It added that mass buy-ups of company shares that are expected to grow based on their business turnover last year would help boost the index.

“However, uncertainty over tension between Russia and Ukraine would make the index volatile,” Krungsri Securities predicted.

It recommends the purchase of the following companies’ shares as an investment strategy:

• EA, GPSC, Amata, WHA, AH and Stanly, which will benefit from the government’s electric vehicle promotion package.

• BBL, KBank, KTB, SCB, TTB, BLA and THREL, which would gain from news of a US interest rate hike.

• IVL, SPRC, Gulf, Banpu, TU, CPF, Spali, ORI, WHA, Amata, HMPro, CPN, CRC, BLA, NER, Itel, XO, Ask, UBE, Forth, TH and SNNP, that are expected to grow based on their business turnover last year.

The SET Index closed at 1,701.45 on Tuesday, up 16.76 points or 0.99 per cent. Transactions totalled 91.60 billion baht with an index high of 1,702.74 and a low of 1,687.18. The index was closed on Wednesday for Makha Bucha Day.

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