SET Index falls in morning trade
The Stock Exchange of Thailand (SET) Index fell by 10.52 points, or 0.69 per cent, to 1,516.73, with a total value of Bt24.71 billion in the morning session today (February 18).
A Krungsri Securities stock analyst predicted that the SET Index would fall to between 1,520 and 1,525 points "due to lack of new support factors".
“We expected investors to delay investing to monitor announcements by listed companies on their 2019 performance and the Covid-19 virus situation,” the stock analyst said.
The analyst explained that the market was still under pressure after the National Economic and Social Development Council cut its gross domestic product forecast this year to 1.5-2.5 per cent from the previous 2.7-3.7 per cent.
“Meanwhile, foreign investors have sold stocks amounting to Bt4.7 billion for four consecutive days,” the analyst said, recommending four groups of stocks for investors:
● ICT stocks such as Advanc and INTUCH will benefit from the 5G spectrum band auction.
● Energy stocks such as TOP, PTTGC and SPRC will benefit from rising oil prices.
● Financial stocks such as MTC, Sawad and KTC will benefit from reduced financial costs after the Monetary Policy Committee cut the interest rate by 0.25 per cent.
● Exporters and food stocks such as KCE, Hana, Delta, CPF and TU will benefit from the weakening of the baht.