SET slide expected to slow on Tuesday after Monday’s 45-point drop
The Stock Exchange of Thailand (SET) Index is expected to fall to between 1,615 and 1,620 points on Tuesday amid the ongoing Russia-Ukraine crisis, Krungsri Securities said. The SET slide is expected to decelerate after falling more than 45 points on Monday.
Krungsri Securities said the index would be under pressure from stagflation due to the push for a ban on Russian oil.
"However, the rising oil price would help boost the index, especially energy shares," it added.
It recommends the purchase of the following as an investment strategy:
• PTTEP, 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, GLOBAL and DOHOME will benefit from rising commodity prices.
• PSL and TTA will benefit from the rising freight rate.
The SET Index closed at 1,626.70 on Monday, down 45.02 points or 2.69 per cent. Transactions totalled 127.03 billion baht.
