SET expected to drop to support level of 1,700-1,705 on Monday
The Stock Exchange of Thailand (SET) Index is expected to fall to the support level of 1,700 to 1,705 points on Monday due to tensions between Russia and Ukraine, Krungsri Securities said.
It added that uncertainty over the US Federal Reserve signalling it would raise the interest rate in March, plus rising Covid-19 cases in Thailand, would pressure the index.
"However, mass buy-ups of company shares that are expected to rise in value based on their business turnover last year will help boost the index," Krungsri Securities said.
It recommends purchasing the following as an investment strategy:
• PSL and TTA will benefit from rising freight rate.
• BBL, KBANK, KTB, SCB, TTB, BLA and THREL will benefit from news of the US interest rate hike.
• IVL, SPRC, BANPU, TU, CPF, ORI, WHA, AMATA, HMPRO, CPN, CRC, BLA, NER, ITEL, XO, UBE, FORTH, TH, SNNP and ONEE that are expected to grow based on their business turnover last year.
The SET Index closed at 1,713.20 on Friday, up 1.62 points or 0.09 per cent. Transactions totalled 95.61 billion baht with an index high of 1,716.14 and a low of 1,703.60.
