SET expected to fall over 10% on Friday as war fallout hits US, Europe

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The Stock Exchange of Thailand (SET) Index is expected to fall to between 1,680 and 1,685 points on Friday amid tensions between Russia and Ukraine, Krungsri Securities said.

SET expected to fall over 10% on Friday as war fallout hits US, Europe

It added that sanctions on Russia had also hit US and European economies with rising inflation.

“However, the rising oil price would help boost the index,” Krungsri Securities said.

It recommends the purchase of the following as an investment strategy:

• PTTEP, PTT, TOP, SPRC and BCP will benefit from the rising price of oil and gross refining margin.

• HMPRO, GLOBAL, DOHOME, MAKRO, CPALL, CRC and CPN will benefit from domestic economic recovery.

• BDMS, INTUCH, ADVANC and DTAC, which are defensive stocks.

The SET Index closed at 1,696.08 on Thursday, up 6.27 points or 0.37 per cent. Transactions totalled 113.82 billion baht with an index high of 1,705.50 and a low of 1,691.20.

Published : March 04, 2022

By : THE NATION

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