Rising oil price, mass share buy-ups expected to boost SET Index
The Stock Exchange of Thailand (SET) Index is expected to fluctuate between 1,690 and 1,705 points on Thursday due to tensions between Russia and Ukraine, Krungsri Securities said.
However, it predicted that the rising oil price and mass buy-ups of company shares that are expected to grow based on business turnover last year would help boost the index.
It also advised investors to monitor Thailand’s January imports and exports as these would indicate whether the economy would recover or not.
It recommends the purchase of the following companies’ shares as an investment strategy:
• KBank, BBL, TTB, KTB, SCB and BLA, which would benefit from news of a US interest rate hike.
• PTTEP, Top, IVL, SPRC and BCP, which would gain from the rising price of oil and the gross refining margin.
• PSL and TTA, which would benefit from a rising freight rate.
The SET Index closed at 1,696.45 on Wednesday, up 5.33 points or 0.32 per cent. Transactions totalled 87.66 billion baht with an index high of 1,700.35 and a low of 1,686.09.
