20170616_BSC_Vietnam Daily Review_EN_Struggling around the 760 support level

Highlights
Since the morning session, the market started trading above the previous closing price level all the time until the end of today afternoon session. The main supportive stocks contributing today trading session were largecaps stocks including VIC (+0.63 point), GAS (+0.39 point), HPG (+0.33 point), NVL (+0.25 point). IN contrast, ROS (-0.98 point), MSN (-0.39 point) and VNM (-0.39 point) limited the bullish momentum of the market. The cash flow rotated between different sectors and distributed into stocks belonging to different capitalization category. The most notable example would be banking sectors in which while SAB, STB, MBB, NVB, SHB were increasing, BID and CTG decreased. During today session, the pair HAG and HNG continued attracting major cash flow and increased at the end of today session. Especially, , despite being sold 10 million shares by ETF and going down to the floor price, HAG price still witnessed an increase in its stock price. In addition, ETF also sold 5 million shares of PVD and also PVS. The market scale maintained a positive state in which the bullish stocks dominating the market (141 bullish stocks/128 bearish stocks). Market liquidity increased significantly in comparison to the previous trading session with its trading value increased by 1,000 billion and reached 4,421.2 billion/session. At the end of today trading session, VN-Index increased by 0.67 point (+0.09%) and closed at 760.24 point; HNX-Index increased by 0.53 point (+0.51%) up to 98.31point level.


Market Outlook
Today trading session continued testing the 760 level. During the session, although the market liquidity increased significantly and the market scale was positive, the market fluctuation margin was in a narrowed state. This phenomenon occurred due to strong selling pressure of Largecaps stocks which was caused by ETF and Foreign investors. Domestic cash flow continued distributing into different market sectors. BSC expected the market to continued fluctuating around the 760 level in the upcoming trading sessions.