Thai Stock Market Roundup on February 1, 2021

– SET Index closed at 1,478.05 points, increased 11.07 points or 0.75% with a trading value of 77.8 billion baht. The analyst stated that the Thai stock market advanced 11 points as regional markets and Dow Jones Futures edged higher, seeing the hike as a technical rebound after a series of negative sessions last week.

In the afternoon, SET Index was buoyed by the energy and banking sectors, coupled with an increase in oil prices as well. The analyst gave a support level for tomorrow’s session at 1,465 points and a resistance level at 1,492 points.

– Local Individuals led Local Institutions and Proprietary Trading to combine a net buy of 2.8 billion baht, buoying SET Index by 11 points.

– The Myanmar military declared a one-year state of emergency as fears of coup escalated.

– PTTEP acquired 20% stake in “Oman Block 61” to venture into LNG value chain strategy.

– KGI suggested investors shift to mid-caps during the range-bound market.

– EGCO acquired 28% stake in “Linden Topco” to penetrate 972MW natural gas power plants in the U.S.

– SCB and PACE converted debt into equity after D&D completed the business reorganization.

– Analysts targeted BGRIM’s 2021 earnings to grow 17%, giving “BUY” rating at a target price of ฿64.00/share.

– ECF and META believed Myanmar to continue supporting “Minbu Solar” and other businesses despite political unrest.

– GUNKUL saw no Impact from Myanmar’s political crisis, targeting 2-digit growth in 2021.

– SISB expected to accept more students in 2021 with “Thonburi Phase II” to launch in August.

– JMART projected to hit an all-time high for 5 consecutive years after joining “KB Kookmin”.

– Stocks in Focus on February 1, 2021: AP (Maybank Kim Eng TP at ฿8.26/share) and SPALI (KGI Securities TP at ฿24.50/share).

Top 10 Most Impact Shares on February 1, 2021