Thai Stock Market Roundup on May 7, 2021

– SET Index closed at 1,585.03 points, increased 13.12 points or 0.83% with a trading value of 93.8 billion baht. The analyst stated that the Thai stock market moved in the same direction as regional and European markets.

The positive factors in the global buoyed the stock market with positive jobless claims in the U.S., a revised up economic forecast for the U.K., and positive economic data in China.

The analyst stated that the Thai stock market had priced in the negativity to a certain point and the rest is up to the vaccine rollout.

In addition, the analyst expected SET Index to move sideways next week with a limited upside due to Covid-19 concerns, giving a support level at 1,550 points and a resistance level at 1,610 points.

– Foreign Investors continued to buoy SET Index by 13 points with a 3.2 billion baht of net buy.

– U.S. Fed warns of potential significant declines in asset prices if risk appetite falls.

– NOBLE secured partnership with “Fulcrum” to jointly invest in the UK market, expecting to close the first acquisition within days.

– Finansia Syrus Securities recommended global-play strategy and raised BCH, CPALL, ITEL, STEC and TU as top picks for May.

– Analysts recommended “BUY” on GLOBAL as strong earnings outlook should continue in 2Q21 thanks to higher steel prices. Together with its outstanding SSSG during the work from home policy in April.

– DMT fell below IPO on its first trading day, down by 0.62% to ฿15.90 per share.

– ILM recorded a net profit of 145 million baht in 1Q, increased 23% from lower operating costs.

– GPSC reported a net profit of 1.97 billion baht in 1Q21, increased by 25% from the profit sharing of Xayaburi.

– OCEAN signed an MOU with Pharma Company to jointly invest in dietary supplement production.

– Stocks in Focus on May 7, 2021: PTTGC (Maybank Kim Eng TP at ฿75.00/share) and IVL (Trinity Securities TP at ฿60.00/share).

Top 10 Most Impact Shares on May 7, 2021