20170308_BSC_Vietnam Daily Review_EN_Continue the intense trading

Highlights
Similar to the previous session, the VN-Index today continued to be traded under its reference level in the morning, then came back to a recover and closed the day with a minor gain. The dip in the morning was mainly due to the correction of market drivers such as ROS and VJC, after their recent bullish trends, while the VN-30 Index and HNX-Index enjoyed some modest gains. In the afternoon, the downward pressure also came from SAB, VIC, GAS, NVL, and CTD. However, with the supports of several sectors, including retails (VNM, MSN), banking (VCB, BID, MBB, CTG), and pharmaceutical (DCL, DMC, IMP, excluding DHG). Tradings were still intense, with clear fragmentation within the Blue-chips. Market liquidity saw a minor drop of VND 16.7 billion, which is still at a high. Capital continued to flow to the construction-real estate sectors such as ROS, FLC, CII, HBC, and to VJC. There were also notable negotiated transactions at PGI, ACB, and HPG. VN-Index increased 0.06 points (+0.01%) to 716.60 points.

Market recommendation
The market observed a similar fluctuation of the VN-Index as compared to the two sessions at the beginning of this week, which ensuring the sustainable accumulation above the resistance level of 715. In the following sessions, if there was no good news from the macroeconomics situation or from business performances of fundamental stocks, the VN-Index would continue tp fluctuate in the current breadth. BSC recommends that investors should pay attentions to crucial information of the global market, such as: oil prices, the activities of foreign investors, and the odd of FED’s rates hikes on March 15 to make suitable investment decisions. Investors should decrease the proportion of the stocks that had good upsides in recent months in their portfolio and consider investment opportunities from sectors that could appreciate in prices in the future, such as the Construction, Fertilizers,.. sectors.