A stock analyst at Krungsri Securities expected the index to fluctuate between 1,425 and 1,450 points as the market gained positive sentiment from a rise in the US stock market.

“The US stock market rose amid hopes for an economic recovery after an easing in lockdowns, while the country’s non-farm employment increased by 2.5 million,” the analyst said.

He said energy and petroleum stocks would be under pressure from a decline in the crude oil price after Saudi Arabia aimed to increase oil production in July to comply with its production quota.

“We expect investors to hold off on trading to follow the US Federal Open Market Committee meeting on June 9 and 10,” he said. “Meanwhile, the SET would be under pressure from tight valuation as the index’s price-to-earnings ratio was more than 20 times.”

He recommended investors buy:

▪ Stocks which will benefit from the cabinet’s move to come out with tourism stimulus measures, such as Mint, Centel, ERW and AOT.

▪ Stocks which will benefit from the Eastern Economic Corridor, such as Amata and WHA.

▪ Stocks whose second quarter performance will improve, such as CKP, Tasco, STA and RS.

The SET Index closed at 1,438.66 yesterday, up 2.96 points or 0.21 per cent. The total transaction volume was Bt105.39 billion, with an index high of 1,454.95 points and a low of 1,429.68.