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Tight valuation makes SET vulnerable to volatility (nationthailand.com)

Tight valuation makes SET vulnerable to volatility

EconDec 14. 2020

By The Nation

The Stock Exchange of Thailand (SET) Index rose by 6.77 points, or 0.46 per cent, to 1,489.44 in the morning session on Monday.

An analyst at Krungsri Securities expected the day’s index to fluctuate between 1,470 and 1,500 amid the influx of foreign funds in response to positive news of a Covid-19 vaccine.

“However, the SET would face volatility due to tight valuation at price to earnings of 29 times and the resistance line at 1,500 points,” he said.

He recommended that investors buy:

▪︎ PTTEP, PTTGC, TOP, IVL and SPRC that benefit from rising oil price.

▪︎ MINT, CENTEL and AOT that benefit from positive news of a Covid-19 vaccine.

▪︎ Laggard shares in the SET 50 Index, such as EGCO, DTAC, KTB, TMB and SCB.

The SET Index closed at 1,482.67 on Wednesday, up 3.75 points or 0.25 per cent. Total transactions amounted to Bt123.39 billion with an index high of 1,503.89 and a low of 1,474.83.

The SET was closed on Thursday and Friday for Constitution Day.