Thai Stock Market Roundup on April 16, 2021

A short summary to inform investors of significant developments in the Thai stock market on April 16, 2021.

SET Index closed at 1,548.96 points, increased 7.84 points or 0.51% with a trading value of 89.4 billion baht. The analyst stated that the Thai stock market made a technical rebound after a drop to a support level of 1,530 points last week in response to concerns over rising coronavirus cases in Thailand. However, the announcement of no curfew in the afternoon spurred investors sentiment, leading SET Index to a 8 points higher at the closing.

The analyst stated that the earnings season for the banking sector next week could lift the market sentiment more or less if the results were better than estimated while giving a support level for next week at 1,530 points and a resistance level at 1,580 points.

– Foreign Investors led the market in buying power with a 1.5 billion baht of net buy to buoy SET Index nearly 8 points.

– “Citigroup” was ex[ected to close banking operations in 13 countries, including Thailand.

– “Ngern Tid Lor” announced a preliminary IPO price range at THB34.00 – 36.50 per share.

China’s GDP grew 18.3% in 1Q21 from strong domestic and foreign demands.

– The Central Bankruptcy Court granted NOK’s rehabilitation plan extension to May 15, 2021.

– The Thai banking sector plunged heavily as concerns over more provisions in 2Q21 rose.

COM7 continued to make an all-time high at Bt72.50, expecting 1Q21 earnings to double from higher demand in IT products and iPhone12.

– The analyst upgraded AEONTS’s target price to ฿275 in the light of 17% earnings growth in 1Q21.

– UBS expected MSCI to add SCGP with $138mn of Inflow, weigh down DTAC and delist OSP.

– The analysts gave a “BUY” rating on NRF with a target price of ฿12 due to plant-based products boom globally.

PTTEP climbed 4%. The analyst forecasted strong earnings in 1Q with a “BUY” recommendation and a target price of ฿130.00/share.

Thai PM confirmed no curfew and lockdown, but ordered all stores in the red zone to be closed between 11pm-4am.

CENTEL (KGI Securities TP at ฿36.50/share) and TPIPP (Maybank Kim Eng TP at ฿5.50/share).