SET market report for April 2021

Friday 07 May 2021 10:39
During January - April, a number of countries, particularly the advanced ones, provided COVID-19 vaccines to their citizens to achieve herd immunity, correspondingly the International Monetary Fund (IMF)'s forecast indicated the world economy is bouncing back with an upward revision of the global economic outlook to 6.0 percent from 5.5 percent. The new wave of the COVID-19 pandemic in Thailand has prompted economists to slightly lower Thailand's GDP growth projection as the strong recovery sign of exports during Q1/2021 helped offset some impacts from the outbreak. In addition, securities analysts have continued to raise Thai listed companies' earnings forecasts.
SET market report for April 2021

SET Senior Executive Vice President Soraphol Tulayasathien said the SET Index increased 9.2 percent from end-2020, the bigger gain than the regional peer average, to 1,583.13 points at end-April, propelled by the export sector recovery and large-cap listed companies' better-than-expected earnings results. The industry groups that outpaced SET Index compared with end-2020 were Industrials, Financials, Agro & Food Industry, Consumer Products, and Property & Construction.

Key highlights for April

  • The SET Index rose 9.2 percent in April from end-2020, faring better than the regional peer average but slightly lowering than the previous month.
  • In April, several industry groups rose from end-2020, with Industrials, Financials, Consumer Products, Agro & Food Industry, and Property & Construction outperforming the SET Index.
  • The average daily trading value of SET and mai in April 2021 jumped 37.0 percent from a year earlier to THB 93.28 billion (approx. USD 2.97 billion). The daily trading value for the first four months averaged THB 96.12 billion.
  • In April, local investors continued to dominate trading activities, accounting for 51.6 percent of total turnover. Foreign investors were net sellers for the fourth consecutive month with a net THB 3.45 billion, and a total of THB 32.82 billion for January - April period.
  • In April, there were one newly listed company on SET and two on mai. For the first four months of 2021, SET was considered ASEAN's biggest IPO market, mainly due to the listing of PTT Oil and Retail Business pcl (OR).
  • SET's forward P/E ratio was 19.5 times at end-April, while historical P/E ratio was 39.3 times, exceeding the average of the Asian peers at 14.8 times and 22.6 times, respectively.
  • Dividend yield ratio of SET was 2.39 percent at end-April, above Asian stock markets' average ratio of 2.34 percent.

Derivatives market

  • In April, the average derivatives trading volume recorded at 473,676 contracts per day, down 23.80 percent from the previous month, largely due to the lower trading activities in SET50 Index Futures, Single Stock Futures and Gold Online Futures.

Source: SET

SET market report for April 2021