SET focus shifts to technology stocks as oil price falls
The Stock Exchange of Thailand (SET) Index is expected to fluctuate between 1,670 and 1,690 points on Friday even though the US stock indices had risen on strong job growth data and window dressing in the latter part of this month, Krungsri Securities said.
However, the drop in oil price due to expectations that Europe will not sanction Russian oil, as well as the ongoing Russia-Ukraine conflict, would pressure the index, it said.
It recommends the purchase of the following as an investment strategy:
• KCE, HANA and SVI would benefit from the rising price of technology shares.
• GPSC, BGRIM, SCGP and EPG would benefit from falling oil price.
• BDMS, BH, INTUCH, ADVANC, BTS and BEM which are defensive stocks.
The SET Index closed at 1,680.89 on Thursday, up 2.94 points or 0.13 per cent. Transactions totalled Bt66.56 billion with an index high of 1,685.12 and a low of 1,675.19.
