Mon, August 08, 2022

business

Thai stock market to feel impact of rising oil price on Tuesday


The Stock Exchange of Thailand (SET) Index is expected to fluctuate between 1,660 and 1,680 points on Tuesday amid a rise in the oil price due to the intensifying Russia-Ukraine conflict and Libya’s production halt due to a protest, Krungsri Securities said.

It added that uncertainty over the US Federal Reserve's move to shrink its balance sheet and raise the interest rate to deal with inflation would pressure the index.

It recommends the purchase of the following as an investment strategy:

• PTTEP, TOP, IVL, SPRC and BCP would benefit from the rising 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 1,668.06 on Monday, down 6.28 points or 0.38 per cent. Transactions totalled 64.43 billion baht with an index high of 1,675.95 and a low of 1,665.25.

Published : April 19, 2022

By : THE NATION