Foreign funds outflow could pull SET down
The Stock Exchange of Thailand (SET) Index rose by 4.55 points, or 0.28 per cent, to 1,624.57 on Tuesday morning, witnessing a high of 1,626.55 and a low of 1,622.67 in opening trade.
The SET Index closed at 1,620.02 on Monday, down 11.13 points or 0.68 per cent. Transactions totalled 135.31 billion baht with an index high of 1,639.97 and a low of 1,616.60.
Krungsri Securities forecast the index on Tuesday would move between 1,610 and 1,630 points despite rising oil and coal prices in line with economic recovery.
It added that the index also gained positive sentiment from the Centre for Covid-19 Situation Administration's move to ease Covid-19 restrictions in a bid to enable businesses to perform economic activities.
"However, uncertainty over the domestic floods and weakening baht would trigger foreign funds outflow, resulting in pressure on the index," Krungsri Securities said.
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It also recommended buying of the following companies’ shares as an investment strategy:
▪︎ PTT, PTTEP, TOP, PTTGC, SPRC, IVL, BANPU and LANNA, which benefit from rising oil and coal prices.
▪︎ SCB, KBANK, DCC, COTTO and TASCO, which have gained specific positive sentiment.
▪︎ HANA, KCE, TU, CPF, GFPT, ASIAN, NER, SUN and APURE, which benefit from the weakening baht.
