SET expected to gain from improvement in Covid situation
The Stock Exchange of Thailand (SET) Index rose by 3.61 points, or 0.22 per cent, to 1,638.96 on Monday morning, witnessing a high of 1,639.05 and a low of 1,634.25 in opening trade.
The SET Index closed at 1,635.35 on Friday, up 6.23 points or 0.38 per cent. Transactions totalled THB92.05 billion with an index high of 1,639.65 and a low of 1,620.58.
Krungsri Securities forecast the index on Monday would fluctuate between 1,625 and 1,645 points amid uncertainty over the US Federal Reserve's will to taper the quantitative easing programme and raise interest rate sooner than expected after the rise in Producers Price Index.
However, it predicted that speculations in stocks that gained specific positive sentiment and the decline in domestic Covid-19 case would help boost the index.
It also recommended buying the following companies’ shares as an investment strategy:
▪︎ HANA, KCE, TU, CPF, GFPT, ASIAN, EPG, NER, SUN and APURE, which benefit from the weakening baht.
▪︎ COM7, SYNEX, SPVI and CPW, which benefit from Apple's move to launch iPhone 13 in the middle of September.
▪︎ PTT, PTTEP, TOP and PTTGC, which benefit from rising oil price.
