Thai Stock Market Roundup on December 9, 2020

– SET Index closed at 1,482.67 points, increased 3.75 points or 0.25% with a trading value of 123 billion baht. The analyst stated that the Thai stock market was unable to break the resistance level at 1,500 points due to the profit-taking after an outstanding gain in the past few weeks, thus, warned of market rebasing and to be more cautious in the investment as the hike might not be as fast as it used to be.

In addition, the analyst stated that the overall outlook would remain positive as long as the market maintained above the support level at 1,450 points, while giving a resistance level for next week’s session at 1,486-1,500 points.

– Individuals returned to invest in Thai stocks, buoying SET Index by 3.75pts with a THB4,084 million of net buy.

– “Top Glove” profit in 1Q21FY jumps 20 folds, while expecting demand to grow 25% in 2021.

– PTT acquired 8.9077% of GPSC through TOP to top its stake to over 31%.

– SENA formed “Sena Development H17” to support the juristic person management.

– BCP reported the scheduled shutdown of crude distillation unit between Feb 15-Mar 25, 2021.

– FTSE SET Large Cap Index added DELTA and SCGP, while delisted TAC and TOP. FTSE SET Mid Cap Index added DOHOME, DTAC, JMT, STGT, TOP and delisted DELTA and THAI.

– The analyst expected PTTEP to book 2021 earnings of ฿27Bn and recommended “accumulate” at ฿106.00/share.

– The analyst expected BAM to show a strong outlook in 2021, recommending “BUY” at ฿25.00/share.

– Stocks in Focus on December 9, 2020: PTT (KGI Securities TP at ฿48.00/share) and ADVANC (Maybank Kim Eng TP at ฿229.00/share).

 

Top 10 Most Impact Shares on December 9, 2020