SET Index may go through seesaw battle today

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https://www.nationthailand.com/business/40013751


The Stock Exchange of Thailand (SET) Index is expected to fluctuate between 1,670 and 1,690 points on Thursday despite the rising crude oil price in response to Kazakhstan’s move to cut oil exports due to storm damage, Krungsri Securities said.

SET Index may go through seesaw battle today

It predicted that uncertainty on whether or not the US Federal Reserve would raise the interest rate soon to tackle rising inflation, as well as the Russia-Ukraine conflict and the SET’s move to improve regulation of stock trading would all pressure the index.

Krungsri Securities advised investors to closely follow a key meeting on Thursday featuring the US, the European Union, the North Atlantic Treaty Organisation and the Group of 7 on sanctions against Russia.

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

• PTTEP, Top, IVL, SPRC and BCP, which will benefit from the rising price of crude oil and gross refining margin.

• PSL and TTA, which will gain from a rising freight rate.

• BDMS, BH, Intuch, Advanc, BTS and BEM, which are defensive stocks.

The SET Index closed at 1,677.95 on Wednesday, up 0.08 points or 0.00 per cent. Transactions totalled 70.22 billion baht with an index high of 1,686.14 and a low of 1,676.88.

Published : March 24, 2022

By : THE NATION

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