SET rallies over rising oil price, Russia-Ukraine talks, US Fed report

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The Stock Exchange of Thailand (SET) Index is expected to fluctuate between 1,675 and 1,690 points on Friday, Krungsri Securities said.

SET rallies over rising oil price, Russia-Ukraine talks, US Fed report

It said the index gained positive sentiment from the surge in crude oil price to above US$100 per barrel, progress in ongoing Russia-Ukraine negotiations and the US Federal Reserve’s confirmation of a strong US economy.

“However, the index may be under pressure due to mass sell-offs in response to signs of overbought stocks,” 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.

• KBANK, BBL, TTB and KTB will benefit from rising US bond yield and news of US interest rate hike.

• AOT, AAV, MINT, CENTEL, ERW, BH and BDMS will benefit from tourism stimulus measures.

The SET Index closed at 1,681.76 on Thursday, up 13.84 points or 0.83 per cent. Transactions totalled 97.76 billion baht with an index high of 1,686.45 and a low of 1,677.19.

Published : March 18, 2022

By : THE NATION

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