SET Index expected to fluctuate today amid high Covid-19 numbers, inflation
The Stock Exchange of Thailand (SET) Index fell by 12.55 points or 0.79 per cent to 1,566.38 at 10.21am on Wednesday. The volume of transactions was THB20.74 billion with an index high of 1,577.16 points and a low of 1,565.95.
Krungsri Securities predicted the index would fluctuate between 1,570 and 1,590 points amid concern over rising inflation as many countries moved to inject cash in a bid to stimulate the economy, triggering worries about whether the US Federal Reserve would raise the interest rate or not.
It said the index would be under pressure due to the higher number of Covid-19 cases in Thailand.
“However, mass buy-ups of stocks that gain positive sentiment and whose first-quarter performance is likely to improve would help boost the index,” Krungsri Securities said.
It advised investors to follow the US Consumer Price Index in April as this could trigger the Fed to raise the interest rate.
It recommended investors buy:
▪︎ PTT, PTTEP, PTTGC and IVL, which benefit from the rising oil price.
▪︎ PSL, TTA and RCL, which would benefit from a rise in the freight rate.
▪︎ PTTGC, EPG, CPF, BCH, CHG, STGT, STA, Com7, Synex, TWPC and Wice, whose first-quarter turnover is expected to improve.
The SET Index closed at 1,578.93 on Tuesday, down 9.22 points or 0.58 per cent. The volume of total transactions was THB102.35 billion with an index high of 1,590.54 points and a low of 1,566.91.
