Construction sector edged higher in the morning session on Tuesday in response to the report of more construction projects in the pipeline for bidding from the government.
Kasikorn Securities cited historic data, indicating that the sector usually rallies before and after the general election. The firm expected stocks to react positively before the election from the report of new mega projects that will be proposed by the current government. Stocks will rally in two-three months after the general election with a new government finally formed and will begin to approve these mega projects. Kasirkorn Securities also noted that workers shortage is easing and construction materials are quite cheap.
As of 15:58 BKK time on Tuesday, about half an hour before the closing, the share price of Unique Engineering and Construction Public Company Limited (SET: UNIQ) rose THB0.18 or 3.73% to THB5.00 per share.
Seafco Public Company Limited (SET: SEAFCO) gained THB0.08 or 2.04% to THB4.00 per share.
Karnchang Public Company Limited (SET: CK) increased THB0.30 or 1.27% to THB23.90 per share.
Sino-Thai Engineering and Construction Public Company Limited (SET: STEC) hiked THB0.20 or 1.37% to THB14.80 per share.
Italian-Thai Development Public Company Limited (SET: ITD) rose THB0.06 or 3% to THB2.06 per share.
Nawarat Pattanakarn Public Company Limited (SET: NWR) jumped THB0.05 or 6.33 to THB0.84 per share.