Thai Stock Market Roundup on May 21, 2021

A short summary to inform investors of significant developments in the Thai stock market on May 21, 2021.

SET Index closed at 1,552.44 points, decreased 2.10 points or 0.14% with a trading value of 80.9 billion baht. The analyst stated that the Thai stock market moved in sideways trends to rebase due to no positive catalyst to drive the market. Meanwhile, the energy sector in today’s session continued to edge lower due to the decline in crude oil price.

In addition, the discovery of the new Covid-19  Indian variant in Thailand also weighed on the sentiment. The analyst expected SET Index to continue moving sideway, giving a support level for next week at 1,540-1,530 points and a resistance level at 1,570 points.

– A continuous selloff from Foreign Investors for 2,014 million baht, coupled with 813 million baht from Local Institutions plunged SET lower by 2.10 points.

NRF expected to increase its capital for a 49% stake share swap of “Golden Triangle Health” to proceed with the hemp business. Meanwhile, the company also announced a partnership with PTT to establish a joint venture company with an objective to produce and sell plant-based food throughout ASEAN region.

PTT invested 350 million baht in establishing “T-ECOSY” to join BOI in operating Industrial Digital Platform (IDP).

PTTEP followed its strategic plan to diversify the business, joining its partners to provide  drone-based enterprise solutions in the Thai market.

– ASPS expected TIDLOR‘s loan and insurance business to continue growing in 2021, but recommended “Buy on Weakness” due to a limited upside on target price.

IRPC said petrochemical product sales in 2Q21 are expected to remain high from last quarter in response to global demand recovery. Hence, analysts have given a new target price of ฿4.70 per share.

– The Stock Exchange of Thailand reported big lot transactions in the morning session of KCE, comprising 3 transactions, totaling 19.23 million shares and equivalent to 1.18 billion baht at an average price of ฿61.12.00/share.

Maybank Kim Eng said that despite the market performing better than anticipated in the first quarter of this year, it is likely to slow down in the second quarter due to the new wave of Covid-19 outbreaks. Therefore, Maybank maintained the SET Index at 1,600 points at the end of 2021.


Top 10 Most Impact Shares on May 21, 2021

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