Saturday, July 24, 2021

business

SET buoyed by Fed remarks on US economy, rise in oil price


The Stock Exchange of Thailand (SET) Index rose by 8.37 points, or 0.52 per cent, to 1,609.50 on Tuesday morning.

The SET Index closed at 1,601.13 on Monday, down 11.85 points or 0.73 per cent. Transactions totalled THB83.15 billion with an index high of 1,602.66 and a low of 1,590.55.

Krungsri Securities expected the day's index to rebound to between 1,610 and 1,615 points after the Federal Reserve made positive remarks on the US economy and its monetary policy.

It added that the index also gained positive sentiment from the rising oil price.

"However, the index would be pressured by the outflow of foreign funds," Krungsri Securities predicted.

It recommended that investors buy:

▪︎ PTT, PTTEP, IVL and BANPU, which benefit from the rising oil price.

▪︎ BCH, CHG, BDMS, MINT, CENTEL, ERW, AOT, CPALL, HMPRO, CPN, CRC, AAV, AMATA, WHA, BEM and BTS, which benefit from the country's reopening.

Published : June 22, 2021

By : The Nation