SET expected to slide again on Monday amid Russian oil fears
The Stock Exchange of Thailand (SET) Index is expected to fall to between 1,655 and 1,660 points on Monday amid the ongoing Russia-Ukraine crisis, Krungsri Securities said.
It said plans by the US and European countries to ban oil imports from Russia were resulting in negative sentiment on the index.
"However, a rise in the oil price above US$120 per barrel would help boost the index, especially energy shares," Krungsri Securities said.
It recommends the purchase of the following as an investment strategy:
• PTT, TOP, SPRC, BCP and BANPU will benefit from the rising price of oil, coal and gross refining margin.
• APURE, SUN, TVO, TWPC, UBE, PERM, BSBM and GLOBAL will benefit from rising commodity prices.
• BDMS, INTUCH, ADVANC and DTAC, which are defensive stocks.
The SET Index closed at 1,671.72 on Friday, down 24.36 points or 1.44 per cent. Transactions totalled 87.71 billion baht with an index high of 1,689.89 and a low of 1,671.70.
