201700209_BSC_Vietnam Daily Review_EN_ Keeping stability above the supporting level at 700 points

Highlight
Although today’s market underwent a correction, approaching the supporting area at 700 points, almost bearish impacts came from 2 blue-chips such as: GAS and SAB which contributed a 1.5 point drop to VN Index. Almost stocks in the market got the benefit thanks to the increase of liquidity of today’s session and number of bullish stocks taking advantages. Penny shares‘s price quickly recovered and received the support coming from the trading volume. Besides, stock groups being in correction process bounced back from the bottom and attracted more market cash flow. Some sectors like Rubber, Oil and Plastics were in an opposite direction to the market’s trend. About points, VN-Index closed at 700.65 points, maintaining accumulation basis in continuous 6 sessions being around supporting level. Up to today’s session, market liquidity reflected positive signs, reaching VND 2,794.3 billion in trading value.

Market commentaries
The market has been in the process of establishing accumulation basis above the supporting level at 700 points, oscillating in a narrow breadth and keeping on liquidity positively. The accumulation at the moment has been necessary because market cash flow showed signs to come back to Large Cap or BCs stocks. This condition could be ongoing in next sessions if the fluctuation of bluechips’s price influences on the market index. The stable movement of points could create the momentum to the market in general and noticed stocks in particular to set up new higher price in the context of the liquidity in recent sessions has showed positive signs.