A stock analyst at Krungsri Securities expected the index to fluctuate between 1,265 and 1,290 due to lack of new factors to stimulate investment.

“The index will remain under pressure after the US indicated its intent to punish China for the spread of Covid-19 by imposing new tariffs on imported goods,” the stock analyst said.

“This move has caused a severe impact on the US economy, especially as the unemployment rate is expected to be higher than 20 per cent.”

He said that uncertainty following the decline in companies’ first quarter performance would plunge the index.

“However, the index would likely rebound after crude oil price rose to over US$24 per barrel and the number of new Covid-19 cases in Thailand dropped to near zero,” the stock analyst said.

He suggested that investors make selective buys from these four groups of stocks:

● Energy stocks that would benefit from rising oil prices after Opec-plus began to cut production, such as PTT, PTTEP, TOP and PTTGC.

● Stocks that would benefit after the Thai Meteorological Department announced the rainy season would arrive in the middle of May, such as EASTW, CKP, GPSC, GULF and BGRIM

● ICT and food stocks that have escaped the severe impact of the outbreak, such as ADVANC, INTUCH, DTAC and CPF.

● Stocks whose first-quarter performances are expected to improve, such as CPF, IVL, BCPG, GPSC and RS.