SET Index expected to climb ‘before a fall’
The Stock Exchange of Thailand (SET) Index is expected to rise to between 1,695 and 1,700 points on Wednesday before falling, Krungsri Securities said.
It said the index gained positive sentiment from progress in Russia-Ukraine peace talks after Moscow promised to reduce military operations to facilitate upcoming negotiations.
However, Krungsri Securities predicted that the falling oil price and a change in the Thailand Futures Exchange series would cause volatility in the index.
It also advised investors to follow the Monetary Policy Committee’s decision on Thailand’s interest rate and its economic direction.
“The interest rate is expected to be maintained at 0.5 per cent,” Krungsri Securities predicted.
It recommends the purchase of the following stocks as an investment strategy:
• GPSC, BGrim, SCGP and EPG, which would benefit from the falling oil price.
• KCE, Hana, SVI, BBIK, BE8 and ADD, which would gain from rising technology share prices.
• AOT, AAV, BA, Mint, Centel, ERW, BH and BDMS, which would benefit from further easing of Covid-19 restrictions.
The SET Index closed at 1,689.74 on Tuesday, up 5.44 points or 0.32 per cent. Transactions totalled 76.79 billion baht with an index high of 1,692.90 and a low of 1,686.84.
