SET expected to fluctuate on rising oil price, mass vaccinations
The Stock Exchange of Thailand (SET) Index rose by 7.55 points or 0.47 per cent to 1,620.43 at 10am on Wednesday. The volume of transactions was THB4.02 billion with an index high of 1,621.44 points and a low of 1,617.83.
Krungsri Securities predicted the index on Wednesday would fluctuate between 1,605 and 1,625 points amid the rising oil price in line with higher fuel demand and hopes for a Thai economic recovery after mass vaccinations commenced nationwide.
However, it said uncertainty over rising inflation and volatility in foreign fund flows would pressure the index.
“Investors should follow the US Consumer Price Index [CPI] in May, which will be announced on Thursday,” Krungsri Securities said, adding that the CPI is expected to rise by 4.7 per cent.
It recommended investors buy:
▪︎ PTT, PTTEP, PTTGC, Top, IVL and Banpu, which would benefit from a global economic recovery.
▪︎ BCH, CHG, BDMS, Mint, Centel, ERW, AOT, CPAll, HMPro, CPN, CRC and AAV, which would benefit from the country reopening.
▪︎ KCE, IRPC, STA and STGT, expected to be listed on the SET50 Index in mid-June.
▪︎ AAV, BLA, ICHI, PSL, PTL, Singer, Stark, STGT and Synex, expected to be listed on the SET100 Index in mid-June.
The SET Index closed at 1,612.88 on Tuesday, up 0.29 points or 0.02 per cent. Transactions totalled THB100.25 billion with an index high of 1,618.70 points and a low of 1,605.31.
