20170120_BSC_Vietnam Daily Review_EN_Consensus increase came from the large caps

Highlights
The consensus of increasing again, which came from blue – chips such as VNM, GAS, BHN and the recovery of big stocks in Banking sector led the general trend of market in today’s session. After some trading sessions in a narrow range with a low liquidity, the today’s one experienced the comebacks of demand, which helped to improve the market liquidity, making VN – Index go up by 3.95 points. The index closed at 686.26 points, being equivalent to a rise of 0.58 %, whereas market liquidity saw a 14.8 % increase, which calculated based on executive transactions.

Conclusion
Although Tet holiday is coming, cash flow in the market showed positive signs, compared with previous session with a low liquidity. The recoverable session kept the market trend stable around the area of 690 points. The liquidity improved much today, but it experienced a significant drop from that last week. This trend was quite similar to that appeared before Tet holidays in 2014 and 2015. It is a good time for investors to hold some fundamental stocks getting a good performance result in an attractive price if the momentum of selling increases. However, investors should consider opportunity cost before the holiday comes. VN Index still faced the challenges at the level of 690 points and the reliably supporting range at 680 points, liquidity risk could be maintained.