20170428_BSC_Vietnam Daily Review_EN_A negative market breadth.

Highlights
In the last trading session before the holiday, VN Index closed at 717.73 (+0.17%). The HSX’s index covered by the red at the time of opening due to the negative effect coming from Oil & Gas, however market demand was strong, helping the market bounce back after that. In spite of facing the pressure of sale in the afternoon, the index kept the 715 resistance at the end. There was one more session showing that the liquidity became bright with VND 3.619 billion in trading value, however the market breadth brought negative signs in which number of bearish stocks getting more dominant than that of bullish ones. Once more time, VNM was the main power leading the increase of the market, along with MBB or PLX. On the contrary, STB and NVL were the major factors limiting the rally of VN Index. The current trend was the divergence among sectors, especially Bank, Oil & Gas, Construction – Real Estate. On HNX, HNX Index surged by 0.25%, reaching 89.54.
 

Recommendation
The market continued fluctuated above the supportive level of 715, with market liquidity maintaining the same rate as yesterday session. Market sentiment has become stable after two consecutive bullish sessions. However, the uptrend momentum can be slowed down when investors mainly focused on Large cap stocks such as VNM, BSC expected the market to continue fluctuating within a margin of 715- 720 level in the next Wednesday session. We recommend investors to maintain high proportion of money in their portfolio in order to invest into good fundamental stocks when a strong bullish signal appeared again.