SET encounters volatility amid rising worries about Covid-19 #ศาสตร์เกษตรดินปุ๋ย

#ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

SET encounters volatility amid rising worries about Covid-19

Econ

Jul 16. 2020

By The Nation

The Stock Exchange of Thailand (SET) Index dropped by 0.19 points, or 0.01 per cent, to 1,354.12 in the morning session on Thursday (July 16).

A stock analyst at Krungsri Securities expected the index to fluctuate between 1,345 and 1,365.

“The market gained positive sentiment from the ongoing progress of mRNA-1273 vaccine to deal with the Covid-19 and rising crude oil price,” the analyst said.

The analyst explained that the price of crude oil rose over US$41 per barrel after the US crude oil storage dropped by 7.5 million barrels and Opec+ decided to cut crude oil production to 7.7 million barrels per day from the previous 9.7 million barrels per day.

“However, the index would be under pressure from uncertainty following the second Covid-19 wave in Thailand and the increasing number of new cases in the US where 70,000 new patients were diagnosed recently,” the analyst added.

He recommended that investors buy:

▪︎ Energy stocks that benefit from the rising crude oil price, such as PTT, PTTEP, TOP, PTTGC, IRPC, SPRC and IVL.

▪︎ Food and electronic stocks that benefit from the weakening baht, such as TU, CPF, GFPT, TFG, ASIAN, KCE, DELTA, HANA and SVI.

▪︎ Stocks whose second-quarter performance will improve, such as TOP, PTTGC, SPRC, SCC, BGRIM, CKP, CPF, TU, TASCO, STA, STGT, SPALI, PRM, PTL, AJ, STARK and CBG.

▪︎ Stocks that benefit from the government’s tourism stimulus measures, such as MINT, CENTEL and ERW.

The SET Index closed at 1,354.31 on Wednesday (July 15), up 13.24 points or 0.99 per cent. The volume of total transactions was Bt59.689 billion with an index high of 1,356.93 and a low of 1,344.76.

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