20170628_BSC_Vietnam Daily Review_EN_Fluctuated around the previous closing price level

Highlights
In the morning session, the market continued bearing strong sale pressure and reached the bottom level of 762.78 point. However, thanks to the bottom catching activities of PLX and SAB, strong supportive force at VNM and real estate stocks caused the market to rebound back to the previous closing point level. In the afternoon session, VN-Index continued fluctuating around the previous closing point level until today session end. The stocks that supported the market in today session were VNM (0.93 point), GAS (0.58 point), CTG (+0.19 point), and FPT (+0.12 point). In contrast, stocks limiting the bullish momentum of the market were VCB (-0.24 point), VIC (-0.13 point), SAB (-0.13 point), STB (-0.09 point). The market cash flow rotated between different market sectors and spread into Real-estate stocks including CTD, DXG, FCN, VRC, VGC, HBC... In the Banking sector, differentiation occurred when CTG, BID, MBB increased and VCB, ACB, NVB decreased. Moreover, in regards to penny stocks, OCG and ITA continued attracting a large amount of cash flow; and these stocks both have the highest trading volumes. The market returned to its positive state with the bullish stocks dominated the market (150 bullish stocks/114 bearish stocks). Market liquidity decreased significantly in comparison to the previous session, its matching value went down to VND 3,036.1 billion/session. At the end of today session, VN-Index increased by 1.53 point (+0.20%) and closed at the 769.04 level; HNX-Index increased by 0.33 point (-0.72%), up to the 98.35 level.

 

Market Outlook
During today session, the market confronted with strong selling pressure but it had rebounded in time and fluctuated around the previous closing price level. The market cash flow spread into individual Bluechip stocks and Real-estate sector. The positive market scale indicated that the market cash flow continued to be invested into different stocks belonging to different market capitalization. Market fluctuation margin was at the same level as the previous session with a difference between the highest point and smallest point to be 6.29 point. VN-Index continued to rebounded significantly beyond the MA(15) line during the sessions thanks to the increase momentum of individual supportive stocks while the market liquidity was clearly decreasing and concentrating on Largecap stocks; the market cash flow cannot increase in upcoming trading sessions and differentiation is going to occur which in turn, cause the market to fluctuate within the short-term resistance supportive level of 765-770.