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SET extends gains despite index’s tight valuation (nationthailand.com)

SET extends gains despite index’s tight valuation

EconDec 17. 2020

By The Nation

The Stock Exchange of Thailand (SET) Index rose by 9.23 points, or 0.62 per cent, to 1,491.32 in the morning session on Thursday.

An analyst at Krungsri Securities expected the day’s index to fluctuate between 1,475 and 1,490 points amid positive sentiment following the US Federal Reserve’s move to maintain bond purchases and hopes of a fresh economic stimulus package worth $900 billion (Bt26.9 trillion).

“However, investors should beware of mass sell-offs of shares due to the index’s tight valuation at 29 times the price-to-earnings ratio,” he said.

He recommended investors buy:

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

> BH, Sawad and TU, of which FTSE will increase the investment weight on December 18.

> BAM, Delta and Com7, which will be listed on the SET50 Index.

> JMart and MBK, which will be listed on the SET100 Index.

The SET Index closed at 1,482.09 on Wednesday, up 4.88 points, or 0.33 per cent. The volume of total transactions tipped Bt106.4 billion, with an index high of 1,488.86 points and a low of 1,475.09.