20170706_BSC_Vietnam Daily Review_EN _ Broke through the resistance level of 780 point

Highlights
Right at the opening, the market began to climb steeply and reached 781.53 points. But the increase momentum was not maintained, stagnated in this level and fluctuated horizontally in the range of 780 - 782 points to the end of the afternoon session. The stocks led the market rise in the session today are PLX (+0.86 points), VCB (+0.59 points), VNM (+0.43 points), and GAS (+0.38 points). In the opposite site, the stocks hindered the increase momentum of the market are CTG (-0.18 points), BID (-0.11), NVL (-0.10 points) and PNJ (-0.09 points). Market cash flow mainly focused on securities, fertilizer and real estate. Securities group hold the role of leading the market when all stocks of this group increased, except for VND which declined. The strong differentiation was happened in banking group as only VCB increased, ACB, STB and EIB kept unchanged while CTG, VIB and BID fell. In the real estate group, cash flow looked to stocks that had announced good second quarter income such as LCG, CII, NBB, NLG, PDR, HDG, LDG and KDH. In addition, about pennies and small-caps, HAR, PVX and ITA continued increased to ceiling while PVL and PPI both decreased. The market scale changed to positive status with number of rising stocks overwhelmed the market (149 gainers/117 losers) has shifted to the positive State with increased numbers overwhelm the market (increase/decrease code 117 code 149). Market liquidity increased back, with trading value of VND 3,467 billion. Sum up the session today, VN-Index increased by 4.33 points (+0.31%) and closed at 782.65 points; HNX-Index increased by 0.68 points (+ 1.20%) to 102.60 points.
 

Market outlook
The recovery of the market was largely influenced by the supportive stocks and the recovery of banking stocks during trading session day, causing index of most market sectors regained today. The market liquidity hasn't been positive. The weakening cash flow for large capitalization stocks is making low price stocks more active, while low capitalization stocks are influenced by market factors. Differentiate is still occurring in most market sectors, market indexes are rising and liquidity has not improved and technical indicators have tended to escape the overbought area. The market is entering a fairly complex range as the bulls and bears sessions crossed below the short-term resistance at 780 points. In the coming days, investors will observe the improvement of market cash flow and take precaution of general market reversal, at short-term support threshold of 770 points or lower.