Thai Stock Market Roundup on April 23, 2021

– SET Index closed at 1,553.59 points, decreased 14.62 points or 0.93% with a trading value of 86.1 billion baht. The analyst stated that the Thai stock market plunged sharply for the second day due to the rising cases of Covid-19 that broke a record high for a daily new case at 2,070 along with another four deaths.

The analyst expected SCC, DELTA, SCGP and HMPRO to release their earnings next week, which could boost the market sentiment due to positive earnings estimation.

Meanwhile, the analyst stated that the Thai stock market could rebound next week if the Covid-19 situation eased during the weekend, giving a support level for next week at 1,540-1,533 points and a resistance level at 1,565-1,570 points.

– Local Institutions, Foreign Investors and Proprietary Trading continued to plunge SET Index with another 5,033 million baht.

– PTT topped up the positions in GPSC to 44.45% to increase its investment in the power business through flagship companies which align with PTT’s strategy.

– BEC rose 4% as the analyst expected the business to turnaround to 741 million baht from 1) recovery ad revenue +4 % YoY from a comeback of Sorayuth and 2) strengthened profit margins.

– Daily new Covid-19 cases in Thailand hit a record high at 2,070 with 4 more deaths. Total cases rose to 50,183 and total deaths reached 121.

– Maybank maintained a positive rating on the property sector, expecting the good presales momentum in 1Q21 to continue in 2Q21.

– Krungsri Securities expected IRPC, STA and STGT to enter SET50 in the upcoming index rebalance.

– SABUY jumped 16% during the previous “cash balance” period. Meanwhile, the Stock Exchange of Thailand extended the measure from April 23, 2021 to May 13, 2021.

– Stocks in Focus on April 23, 2021: BEC (Maybank Kim Eng TP at ฿12.00/share) and SAT (KGI Securities TP at ฿24.50/share).

 

Top 10 Most Impact Shares on April 23, 2021