The Thai stock market rose 1.21 percent Monday on bargain hunting after the dollar weakened further, an analyst said. The Stock Exchange of Thailand (SET) composite index gained 8.42 points to close at 706.75 points and the blue chip SET-50 index was up 7.02 points to 498.77. Gainers led losers 193 to 157 and 110 stocks were unchanged with turnover of 2.8 billion shares worth 18.8 billion baht (565.7 million dollars).
The Thai baht rose against the dollar to close at 33.20-21 baht to one dollar compared to Friday's close of 33.28-30. Against the euro the Thai unit fell to 49.71-79 baht to one euro compared to the previous day's close of 49.55-60. Aphisit Limsupanark, an analyst at BFIT Securities, said the market rose on bargain hunting in big-cap shares.
"The falling dollar caused more funds to flow into the Thai market," he said. Coal producer Banpu soared 26.00 baht to finish at 494.00. PTT Plc gained 2.00 baht to close at 238.00, while its subsidiary PTT Exploration and Production rose 2.50 baht to 138.00. Bangkok Bank stayed put at 113.00 baht, Kasikornbank was up 0.75 baht to 82.75 and Siam Commercial Bank added 1.00 baht at 82.75 baht. Siam Cement jumped 7.00 to end at 219.00.
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