The Stock Exchange of Thailand on Friday moved in a narrow range, driven by strong continued buying pressure on CPAll and other domestic players led by ICT stocks like Intouch, True and the industrial estates WHA, Amata and CPN.
However, global plays stocks continued to sell, led by PTTGC, IVL and TOP.
The index closed at 1,623.6 points (+3.1 points) with a trading value of Bt55 billion, close to the previous day’s Bt56 billion, according to a Maybank KimEng report on Monday.
Foreign investors continued to net-buy Thai shares by Bt414 million. Funds switched to net sell by Bt816 million.
There were net long sells on SET50 index future by 1,600 contracts.
Maybank KimEng forecasts the target SET index at 1,743 points at the end of this year.
But it is likely that the first quarter should witness high volatility, as it did in the past quarter.
The SET index should swing in a range 1,540-1,645 points. Maybank recommends maintaining hold on BEM, EGCO, VGI, CPAll and BJC and accumulating AOT.