Highlights
Being opposed to the morning session, which the VN-Index downed below the supporting level of 705, the Index of HOSE saw an increase, reaching the highest point in the afternoon session at more than 711. Market cash flow kept its trend of previous week, selecting various groups of sectors regularly. The liquidity has been in a high level, being more than VND 4,300 billion today combined with large breadth. Rubber and Fertilizers have not been bright points anymore, which substituted by the Real Estate Group. VIC, NVL were the major contributors to the comeback of the index, on the contrary, banking stocks went down, limiting the bullish momentum of the VN-Index. Other sectors seeing strong gains were Construction, Oil & Gas, Sugar,.. The selling of HPG, which attracted great market participation, due to the information about its share dilution. Today, VN-Index closed at 710.59 (+0.39%).
Market commentaries
The market marked the beginning of this week with a continuation of market adjustment last week, testing the resistant level of 705 points in the morning session. To the afternoon session, the market quickly recovered and surpassed 710 points – a level that it has established last week. Market liquidity continued to increase since last week, with capital flow especially focused on HPG under its share dilution due to equity issuance, dragging down the index during the morning session. With high liquidity spreading to a variety of different shares and a recovery trend of the market after its adjustments, we expect VN-Index will continue to accumulate to 720 points during this month. During adjustment session such as today, the investors should pick additional strong fundamental stocks yet adversely affected by short-term profit realization pressures, as well as pay close attention to stocks that have not yet increased in price in accordance with the general market movements to discover potential investment opportunities.
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