20170704_BSC_Vietnam Daily Review_EN_ A strongly corrected session

Highlights
Right at the opening, the market began to plunge steeply and plummet to the afternoon session, once touched the bottom level of 775.53, near the short-term support 775 points, but were promptly recovered again and traded above this level to the end of the afternoon session. Tickets which made market to fall in today session include of PLX (-0.45pts), BID (-0.44pts), GAS (-0.37pts), and CTG (-0.36pts). In the opposite site, tickets that hindered decrease momentum of market were SAB (+0.19pts), HT1 (+ 0.15pts), ROS (+0.09pts), TAN (+0.08pts). Market cash flow mainly focused on securities tickets and small-caps. Securities sector continued to rise may be due to the effect of the listing event of VCI this weekend with reference price of VND48, 000. In addition, pennies and small-caps such as PVX, OGC, HAR, PPI, and PVL still rose to their ceiling. Meanwhile, blue chips and banking sector tickets such as BID, VCB, CTG, and ACB all strongly fell. Market scale came to negative status as discount tickets overwhelm the market (116 gainers/150 losers). Market liquidity decline slightly compared to last sessions, total execution value reached VND3, 265.8bns/session. Sum up the session today, the VN-Index decreased by 3.34pts (-0.43%) and closed at 775.54 points; HNX-Index increased by 0.15 points (+0.15%), to 100.48 points.

Market outlook
After rising from 4 sessions last week, market has some downward adjusts to supporting index area at 775 points on today session. In some previous sessions, short-term rate confirmation from banking sector and strong price increase of some Blue-chips put a lot of pressure on the market. The negative market scale shows downward trend on almost sectors in the market. The amplitude of fluctuation increases with the range of the top and bottom is 6.29 points. BSC forecast the market will continue to accumulate in the index area 775-780 points in the following sessions.