Russia-Ukraine war, mass share sell-offs to hound SET Index
The Stock Exchange of Thailand (SET) Index is expected to fluctuate between 1,670 and 1,690 points on Thursday after the US Federal Reserve signalled it would raise the interest rate gradually to prevent an impact on US economic recovery, Krungsri Securities said.
However, it predicted that the ongoing Russia-Ukraine war, as well as mass sell-offs of shares in line with signs of overbought stocks, would pressure the index.
It recommends purchase of the following companies’ shares:
• AOT, AAV, BA, Mint, Centel, ERW, CPN, CRC, HMPro, CPAll, Makro, Amata and WHA, which would benefit from countries reopening.
• Top, SPRC, BCP and IVL, which would gain from the rising gross refining margin.
• BDMS, BH, Intuch, Advanc, BTS and BEM, which can tolerate market volatility.
The SET Index closed at 1,680.35 on Wednesday, up 4.73 points or 0.28 per cent, thanks to mass buy-ups of bank shares on hopes that their first-quarter net profit would rise, Krungsri Securities added.
Transactions totalled 69.12 billion baht with an index high of 1,685.90 and a low of 1,675.58.
