Sun, October 24, 2021


SET expected to rise on hopes of US approval of stimulus package

The Stock Exchange of Thailand (SET) Index rose by 13.72 points, or 0.92 per cent, to 1,510.33 in the morning session on Monday.

The SET Index is expected to rise to the resistance line between 1,507 and 1,515 points on hopes of progress in the rollout of US economic relief package worth US$1.9 trillion, a Krungsri Securities analyst said.

He added that the index also gained positive sentiment from the rise in oil price amid increasing demand in line with economic recovery.

He recommended that investors buy:

▪︎ PTTGC, TOP, IVL, EPG, VNT, CBG, ROJNA, TVO, STGT, HTC, CPF, RCL, PSL, SYNEX, COM7, XO, WICE, JMT, JMART, SINGER, MTC, SAWAD and KCE, whose fourth-quarter results are expected to improve.

▪︎ CBG, ICHI, OSP, SAPPE, RBF, DOD and PTG, which benefit from positive news on hemp.

Meanwhile, Kasikorn Research Centre (KResearch) expected the SET Index this week to have support at 1,485 and 1,470 points, but resistance at 1,510 and 1,525 points, respectively.

KResearch said key matters to watch include the Covid-19 situation, fourth quarter results of Thai listed companies in 2020, progress in the approval of US stimulus measures, plus US-China relations.

"US economic data that warrants close monitoring include January consumer price index (CPI) and Weekly Initial Jobless Claims. Other important factors that warrant close monitoring include China’s January CPI and producer price jndex (PPI), Japan’s January PPI, plus the euro-zone’s industrial production for December 2020," KResearch said.

The SET Index closed at 1,496.61 on Friday, up 13.63 points or 0.92 per cent. Total transactions amounted to Bt79.35 billion with an index high of 1,498.35 and a low of 1,488.73.

Published : February 08, 2021

By : The Nation