Thai Stock Market Roundup on July 20, 2021

– SET Index closed at 1,538.86 points, decreased 17.15 points or 1.10% with a trading value of 92.9 billion baht. The analyst stated that the Thai stock market closed lower due to the negative sentiment from Wall Street last night after oil prices declined more than 7% amid concerns over Covid-19 situation and the OPEC+ output increase that could come at the wrong time. The decline had a huge impact on the Thai stock market, which the energy sector has the biggest market cap.

The analyst expected SET Index to retreat not lower than 1,500 points and could have a technical rebound, giving tomorrow’s support level at 1,520-1,500 points and a resistance level at 1,550 points.

– Local Institutions made a 5.4 billion baht selloff, plunging SET Index by 17 points.

– TTB reported a 18% decline in 2Q21 earnings due to a decline in income and an increase in provision.

– KTBST maintained its “Overweight” rating on the energy sector, seeing limited impact on major oil consumer countries.

– KTBST Securities (KTBST) maintained a BUY rating on KTC with a target price of 90.00 baht, in expectation of economic recovery in 2022, stronger credit card spending and lower NPLs alongside higher secured loans.

– TRIS Rating assigned A- rating to BCPG’s THB10 billion senior unsecured debenture with a stable outlook.

– Maybank Kim Eng Securities expected sales of Ichitan Group to continue growing, seeing the decline in share price an opportunity to accumulate.

– Stocks in Focus on July 20, 2021: SC (Asia Wealth Securities TP at ฿3.28/share) and SINGER (Maybank Kim Eng Securities TP at ฿50.00/share).

 

Top 10 Most Impact Shares on July 20, 2021