Asia Plus Sec. Recommends Top Ten Stocks Driven by Institution Buying

The analyst recommends the SET100’s top ten most-bought stocks by institutions (NVDR Net Buy), which include BGRIM, BCPG, CPF, SCGP, GPSC, SCC, TQM, and SAWAD, since there is limited downside risk and the Thai market is expected to bounce back in 4Q as a result of the lockdown easing and listed companies regaining profitability.

Asia Plus Securities (ASPS) stated that from August 31 to October 19, there was constant net selling by institutions (NVDR Net Buy), causing stock prices in the portfolio to fall below the prior prices, which ASPS views as a chance to buy with limited downside, particularly stocks in the SET100.

Thus, ASPS selected equities with an institutional buy rally based on the following criteria: 1) SET100 (strong fundamentals), 2) returns above 0% from July 21 to August 30, 2021 (institutional buying), and 3) returns under 0% from August 30 to the present (institutional selling).

1. B.Grimm Power Public Company Limited (BGRIM)’s share price earlier gained 8.48% from NVDR Net Buys between Jul 21 and Aug 30 before experiencing a Net Selling phase from Aug 31 to Oct 19, resulting in a share price decline of 8.34%.

2. BCPG Public Company Limited (BCPG)’s share price earlier gained 6.47% from NVDR Net Buys between Jul 21 and Aug 30 before experiencing a Net Selling phase from Aug 31 to Oct 19, resulting in a share price decline of 7.43%.

3. Charoen Pokphand Public Company Limited (CPF)’s share price earlier gained 1.90% from NVDR Net Buys between Jul 21 and Aug 30 before experiencing a Net Selling phase from Aug 31 to Oct 19, resulting in a share price decline of 3.74%.

4. Thai Vegetable Oil Public Company Limited (TVO)’s share price earlier gained 0.76% from NVDR Net Buys between Jul 21 and Aug 30 before experiencing a Net Selling phase from Aug 31 to Oct 19, resulting in a share price decline of 3.79%.

5. SCG Packaging Public Company Limited (SCGP)’s share price earlier gained 7.45% from NVDR Net Buys between Jul 21 and Aug 30 before experiencing a Net Selling phase from Aug 31 to Oct 19, resulting in a share price decline of 9.85%.

6. The Siam Cement Public Company Limited (SCC)’s share price earlier gained 4.90% from NVDR Net Buys between Jul 21 and Aug 30 before experiencing a Net Selling phase from Aug 31 to Oct 19, resulting in a share price decline of 8.18%.

7. Supalai Public Company Limited (SPALI)’s share price earlier gained 0.48% from NVDR Net Buys between Jul 21 and Aug 30 before experiencing a Net Selling phase from Aug 31 to Oct 19, resulting in a share price decline of 4.29%.

8. Global Power Synergy Public Company Limited (GPSC)’s share price earlier gained 3.45% from NVDR Net Buys between Jul 21 and Aug 30 before experiencing a Net Selling phase from Aug 31 to Oct 19, resulting in a share price decline of 7.27%.

9. TQM Corporation Public Company Limited (TQM)’s share price earlier gained 0.43% from NVDR Net Buys between Jul 21 and Aug 30 before experiencing a Net Selling phase from Aug 31 to Oct 19, resulting in a share price decline of 8.23%.

10. Srisawad Corporation Public Company Limited (SAWAD)’s share price earlier gained 2.89% from NVDR Net Buys between Jul 21 and Aug 30 before experiencing a Net Selling phase from Aug 31 to Oct 19, resulting in a share price decline of 10.88%.

Overall, ASPS believes that the Thai stock market is continuing on an upward path, but may see some corrections, since the effects of COVID-19 and lockdowns have subsided, and listed companies’ profitability is projected to return in 4Q21.