20170626_BSC_Vietnam Daily Review_EN_Conquered the 770 resistance level

Highlights

At the morning session opening, the market immediately broke through short-term resistance level of 770 point and fluctuated around this level in the entire morning session. In the afternoon session, the market continued trading positively above the 770 level until the session end. The main stocks that supported VN-Index in today session were VIC (+0.67 point), VCB (+0.48 point), MSN (+0.41 point), and BID (+0.34 point). On HNX-Index, ACB (+0.51 point) was the main factor that caused the index point to increase. In contrast, stocks limiting the bullish momentum of the market were DHG (-0.23 point), FPT (-0.13 point), CII (-0.06 point), EIB (-0.06 point). The market cash flow rotated equally between different sectors and spread into Securities stocks such as HCM, CTS, BVS and Real-estate, Construction stocks including LDG, FLC, HBC, HQC, ITA. The differentiation occurred in the Banking Sector when BID, VCB, CTG, ACB increased and EIB, NVB decreased. Moreover, penny stocks continued trading dynamically during today session with OGC, ITA, JVC, FLC reaching their respective ceiling price. The market was at a positive state with the bullish stocks dominated the market (145 bullish stocks/129 bearish stocks). Market liquidity decreased slightly in comparison to at the the previous session, its matching value reached VND 3,674.4 billion/session. At the end of today session, VN-Index increased by 3.51 point (+0.46%) and closed at the 772.52 level; HNX-Index increased by 0.45 point (+0.46%),  up to the 98.73 level.

Market Outlook

The conquer of the 770 point level was mainly due to the increased Banking stocks and Blue-chip stocks including VIC, MSN, HPG, HSG. The market scale continued to be in a positive state and the market cash flow was distributed into different stocks belonging to different market capitalization categories. Market liquidity is at a stable level in in comparison to that in two week before. Market fluctuation margin narrowed with the difference between the highest and lowest index point to be 4.13 points. Excited market sentiment during today trading session can be maintained in the upcoming sessions when Q2 business reports are published in the upcoming time.