SET Index likely to fluctuate, but could get a 'boost' from oil price, stock speculation
The Stock Exchange of Thailand (SET) Index is expected to fluctuate between 1,685 and 1,705 points on Wednesday amid the war between Russia and Ukraine, Krungsri Securities said.
The invasion has also forced investors to turn away from risk assets and go in for safe-haven assets due to the rising volatility index, it pointed out.
“However, the rising crude oil price of above US$100 [THB3,263] per barrel and investor speculation of stocks which gained specific positive sentiment would help boost the index,” Krungsri Securities said.
It advised investors to monitor the US Federal Reserve’s monetary policy and announcement on the country’s economic situation between March 2 and 3.
It recommends the purchase of the following as an investment strategy:
• PTTEP, PTT, Top, SPRC, BCP, Banpu and Age, which would benefit from rising energy prices.
• HMPro, Makro, CPAll, CRC and CPN, which would gain from a domestic economic recovery.
• BDMS, Intuch, Advanc and DTAC, which are “defensive” stocks.
The SET Index closed at 1,694.18 on Tuesday, up 9.10 points or 0.54 per cent. Transactions totalled 91.80 billion baht with an index high of 1,701.69 and a low of 1,690.82.
