20170703_BSC_Vietnam Daily Review_EN_A positive trading session

Highlights
At the opening, the market began to climb steeply and traded above reference price for almost the morning session, once dropped below the reference point but promptly recovered. Into the afternoon session, the increase momentum continued to mid-session thanks to strong demand in large-caps and bank stocks, but was weakened due to the short-term profit taking pressure in large-caps. At the end of the session, VN-Index did not maintain day highest point of 780.01 but still closed in green. The group led the market rally in today session included of GAS (+0.83), HPG (+0.51), CTG (+0.50) and VCB (+0.48). In the opposite site, stocks hindered the momentum of the market were VIC (-0.34), VNM(-0.28), MSN (-0.18), CTD (-0.12). Market cash flow continued rotation intervals between sectors and come into real estate, utilities, steel, bank and securities. In the banking sector, almost stocks rises such as CTG, VCB, BID, ACB, SHB, NVB; the only exception is that STB continues its fall momentum from last session. The same situation also occurs in securities stocks while BSI, SSI, HCM, VND, TVS, SHS and CTS all increased. In addition, among pennies and small-caps, OCG maintained its ceiling price while HAG, HNG declined and sank in red. The width of market turned to negative state when decreasing stocks were more than increasing stocks (130 gainers/142 losers). Market liquidity maintained at same level with last session, with the matching volume of VND3467. At end of session today, VN-Index increased by 2.41 points (+ 0.31%) and closed at 778.88 points; HNX-Index increased by 1.39 points (+ 1.20%) to 100.33 points.


Market Outlook
On the first trading session of July, the market had traded quite positively. Both VN-Index and HNX-Index broke their short term resistance, 780 points and 100 points. However, only HNX sustained breakthrough to end the session while the VN-Index had fallen from that level. The main cause of this situation is the strong differentiation in VN30 stocks, so that these stocks could not maintain its support for VN-Index. HNX-Index was strongly supported by 2 stocks ACB and SHB while stocks which hindered increasing momentum had not significantly declined. Moreover, the fact that market width of VN-Index returned to negative status but still slightly rose shows that the cash flow in today's session was mainly invested into large-caps stocks. Market fluctuation margin was maintained at the same rate as the previous session, reaching 4.48 points. Market liquidity remained stable compared to the previous sessions showed that cash flow remained in the market. BSC expects that VN-Index would continue campaigning in accumulative price region 775-780 point and advance to the 780 points in the upcoming sessions.