Thai Stock Market on October 6, 2020

A short summary to inform investors of what had happened in the Thai stock market on October 6, 2020.

SET Index closed at 1,250.15 points, increased 7.16 points or 0.58% with a trading value of 56.5 billion baht. The analyst stated that the Thai stock market closed higher and in line with the regional market, though contrasted with the European market, as the energy sector drove the market after oil prices surged nearly 6% overnight.

Meanwhile, investors were waiting to see the new economic stimulus measure, which is expecting to be revealed tomorrow, and the newly endorsed Ministry of Finance could give the measures another push.

The analyst forecasted that the stock market would continue its rally in tomorrow’s session with a support level at 1,245 points and a resistance level at 1,260-1,270 points.

– Local Institutions and Individuals combined a net buy of 4,000 million baht to continue pushing the market further.

TU established a joint venture to produce and distribute nutritious food and beverage products.

– Tisco Financial Group Plc (TISCO) is confident in being the first commercial bank to pass the Stress Test by the end of October as the company has a higher coverage ratio at 189.8% (1.9x), and the company estimated a better performance than other banks. Moreover, TISCO has a 8-10% dividend yield as the analyst recommended the target price for TISCO at ฿86.00/share.

ORI jumped 6.3%, the analyst gave a “BUY” recommendation with a target price at ฿9.70/share, emphasizing on stronger-than-expected 3Q20 presales.

PTT, PTTEP and PTTGC closed higher, following a 6% jump in oil prices overnight.

– FSS expected JMT’s core profit to grow 37% as NPL portfolio expand, giving a “BUY” recommendation with a target price at ฿42.00/share.

– Tris Ratings upgraded CBG corporate rating to A with a Stable outlook.

– Stocks in Focus on October 6, 2020: TU (Asia Wealth Securities TP at ฿18.00/share) and TOP (Maybank Kim Eng TP at ฿44.00/share).

Top 10 Most Impact Shares on October 6, 2020