20170331_BSC_Vietnam Daily Review_EN_ Weekend corrected session

Highlights
At the end of the weekend session, the stock market corrected slightly. If yesterday center of attention is pharmaceutical industry, then today the steel industry shine brightly on the market including HPG, HSG, and NKG. In the morning session, the market witnessed the contradict price development of stocks belonging to real estate and banking industries. At the end of the morning session, VN-Index increased slightly and closed the market at the price of 724.91 points. Onward the afternoon session, the market cannot sustain its bullish trend due to strong growing sale pressure at the end of the session. The supportive stocks for today market are GAS, ROS, HPG, and MSN. Among them, GAS is the largest contributor of today session, accounting for 0.4 point of VN-Index. However, VN-Index was hold down by large capitalization stocks such as SAB, VCB, VIC and VNM. The pair HAG and HNG suddenly reversed its downtrend when these stocks increased at the end of the session. The cash flow is invested into steel and pharmaceutical industries. Besides that, at the end of the session, construction – real estate industries maintained its green color.  Notably, TTF has a negotiated trading deal with more than 21 million shares at floor price, corresponding to a price of VND 3.304 billion. Market fluctuation margin in today session was 4.36 point. At the end of the session, VN-Index decreased by 1.55 point (0.21%) down to 722.31 level; HNX- Index decreased by 0.29 point (0.31%) down to 90.83 level and UPCOM-Index stopped at the previous closing level of 57.5.


Recommendation
The market today experienced strong fluctuation with the VN-Index rocketed at the beginning of the day by the agreement of most stocks traded and the positive movement of the steel sector. However, fragmentation between these stocks increased throughout the day, especially among the market drivers. The VN-Index had a correction during its trading session and ended below the reference level, under significant profit realization pressure from investors, especially at the end of the day. It is expected that the market would have strong fluctuations such as this next week due to the news released from the annual general meetings. The resistance level of 720 before has become a new support for the market, which will be tested by the market next week. If this level of support to be maintained, it will be very likely that the index could achieve higher value. Investors should continue to consider picking stocks with strong business results and avoid following the market capital flow during this sensitive period.