Sun, May 29, 2022


SET rallies over US GDP growth, higher oil prices, mass buy-ups

The Stock Exchange of Thailand (SET) Index is expected to rise to the resistance level of 1,642 to 1,650 points on Friday, Krungsri Securities said.

The index gained positive sentiment from the 6.9 per cent rise in the US GDP in the last quarter of 2021, higher oil prices and mass buy-up of shares in companies that are expected to grow.

However, the index will be under pressure from volatility in fund flows due to uncertainty over the US Federal Reserve’s signal that it will increase the interest rate in March.

Krungsri Securities, meanwhile, recommends the purchase of the following as an investment strategy:

• BBL, KBANK, KTB and BLA will benefit from news of the US interest rate hike.

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

• AOT, MINT, CENTEL, ERW and AAV will benefit from the government’s move to relaunch the Test & Go scheme and the fourth phase of the “Rao Tiew Duay Kan” (We Travel Together) travel subsidy.

The SET Index closed at 1,634.17 on Thursday, down 9.27 points or 0.56 per cent. Transactions totalled 93.86 billion baht.

Published : January 28, 2022