Thai Stock Market Roundup on March 8, 2021


SET Index closed at 1,543.76 points, decreased 0.35 points or 0.02% with a trading value of 108 billion baht. The analyst stated that SET Index set off a good start in the morning session, buoyed by the energy sector over the rally in oil prices. However, the market began to edge lower in the afternoon session due to profit-taking after an uptick in the U.S. 10-year bond yield to surge above 1.60% again.

The analyst advised investors to keep an eye on the bond yield and FOMC’s minute on March 16-17 to see the direction of the policy rate, thus, giving a support level at 1,530-1,520 points and a resistance level at 1,561 points.

– Local Institutions and Proprietary Trading net sold 1.7 billion baht of Thai shares to erase all gains in the SET Index and close slightly lower.

Brent crude surged to $71 after Saudi’s oil facilities were attacked.

– “Goldman Sachs” expected Brent at $80 in 3Q21 amid further production cut from OPEC+.

TMB expected earnings to reach ฿20Bn in 2022, seeing auto loan as a key driver.

Maybank picked the banking, energy, services and export sector to benefit from the US $1.9 trillion Covid-19 aid.

– Shares in PTT Group and the energy sector continued the rally amid soaring oil prices to a 14-month high and OPEC+ output cut.

SAWAD jumped 8% to Bt83.75 as the analyst raised the target price to Bt101 over ฿300Mn one-time gain in 1Q.

CHG increased nearly 4% to Bt2.70. KGI raised the target price to Bt3.40 amid a better 2021 earnings projection.

STEC rose 3% as the analyst gave a target price at ฿18.5 on a ฿108Bn backlog and better gross margin.

– Stocks in Focus on March 8, 2021: STEC (Maybank Kim Eng TP at ฿18.00/share) and KTB (KGI Securities TP at ฿16.50/share).

 

Top 10 Most Impact Shares on March 8, 2021

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