Thai Stock Market Roundup on October 14, 2021

– SET Index closed at 1,640.97 points, decreased 2.67 points or 0.16% with a trading value of 84.9 billion baht. The analyst stated that the Thai stock market moved narrowly in today’s session amid an acceleration of Covid-19 cases and fatalities in Thailand, resulting in a bump in reopening stocks, while also facing a profit taking. Fed’s tapering in November and a rise in inflation also pressured the market as well.

In addition, the analyst expected SET Index to move in sideways trends with a support level at 1,630 points and a resistance level at 1,655 points.

– Local Institutions withdrew 2.3 billion baht from the Thai market, plunging SET Index by 2.6 points.

– TOP, PTTGC, ESSO and SPRC rallied as refinery margins reached a two-year high of US$5 per barrel amid global economic recovery from the COVID-19 pandemic.

– ROJNA has acquired 51% shareholding in Herb Treasure Company Limited that operates in hemp-related business.

– The Bank of Thailand stated that the Thai economy bottomed out in the third quarter of the 2021 and would continue to recover amid high uncertainties that remain high.

– TISCO reported a decline of net profit in 3Q21 by 3% due to economic slowdown from Covid-19 resurgence.

– OPEC revised down estimates for global oil consumption for the rest of 2021, reducing to 5.8 million a barrel down from 5.96 million a barrel in earlier forecast.

– GULF chose an equity method to record INTUCH earnings. FSSIA expects the company to record 3 billion baht of net profit in 3Q21.

– BGRIM’s solar farm in Cambodia was named the best new utility of its kind by the UK-based International Finance Magazine (IFM) this year.

– Stocks in Focus on October 14, 2021: ASK (Maybank Kim Eng Securities TP at ฿55.00/share) and IIG (Finansia Syrus Securities TP at ฿41.00/share).

 

Top 10 Most Impact Shares on October 14, 2021