SET Index hit by foreign outflows, investors urged to target strategy
The Stock Exchange of Thailand (SET) Index is expected to fluctuate between 1,670 and 1,690 points on Friday due to a lack of positive sentiment, Krungsri Securities said.
It added that the index would be under pressure due to uncertainty over the US Federal Reserve's move to shrink its balance sheet and raise the interest rate to curb inflation, as well as a lack of progress in Russia-Ukraine peace talks.
Meanwhile, foreign fund outflows both in stocks and futures markets would pressure the index," Krungsri Securities said. "Hence we advise investors to buy shares which have gained specific positive sentiment."
It recommends the purchase of the following as an investment strategy:
• GPSC, BGRIM, SCGP, SCC and EPG would benefit from the falling oil price.
• AOT, AAV, BA, MINT, CENTEL, ERW, CPN, CRC, HMPRO, CPALL, MAKRO, AMATA and WHA would benefit from countries reopening.
• BDMS, BH, INTUCH, ADVANC, BTS and BEM, which can tolerate market volatility.
The SET Index closed at 1,682.41 on Thursday, down 18.77 points or 1.10 per cent. Transactions totalled 97.09 billion baht with an index high of 1,694.23 and a low of 1,674.81.
