Thai Stock Market Roundup on March 10, 2021

– SET Index closed at 1,573.05 points, increased 22.46 points or 1.45% with a trading value of 108 billion baht. The analyst stated that the Thai stock market performed better than expected and successfully surpassed the resistance level of 1,560 points in anticipation of the 1.9 trillion stimulus plan by the U.S. will outshine the rising bond yield.

Meanwhile, investors had switched to focusing on Coronavirus-impacted stocks such as tourism and consumption stocks, which have seen gradual recovery amid economic recovery from lockdown easing.

In addition, the analyst expected SET Index to move sideway up in tomorrow’s session after being able to surpass the 1,560 resistance level, giving the next resistance level at 1,590 points and a support level at 1,560 points.

– Local Institutions and Foreign Investors combined nearly 6 billion baht of net buy to raise SET Index by 22.5pts.

– ITEL expected to reach 2.8 billion baht of revenue in 2021, while gross profit margin is expected to grow 15%.

– ORI invested ฿32Mn to expand the business to asset management and healthcare.

– IFEC to appeal the court after an issue of temporary receivership order on the company.

– JTS added another 15% to its gain and closed at ฿5.10/share.

– SCGP jumped 4% in an anticipation of double-digit growth in 2021. The analyst gave a “BUY” rating with a target price at ฿51.00/share.

– The attractiveness of JMART led to an acquisition of 17.2 million shares by “Adisak” the CEO

– PTT and WHAUP developed “Smart Energy Platform” for Energy Management via AI and Blockchain.

– ASPS expected PETRO sector to grow 668% in 2021, raising PTT–GULF–BBL as top pick.

– TEAMG acquired 9 new projects during Oct 2020-Mar 2021, totaling ฿155mn.

– Analysts recommended “BUY” BGRIM at a TP as high as Bt60.50 over long-term positive outlook.

– IND signed a ฿2.89Bn contract for the feasibility study of Phayao Airport construction.

– Stocks in Focus on March 10, 2021: M (Maybank Kim Eng TP at ฿66.00/share) and TU (Finansia Syrus Securities TP at ฿20.00/share).

 

Top 10 Most Impact Shares on March 10, 2021