20170711_BSC_Vietnam Daily Review_EN_Fluctuated around the level of 765 points

Highlight
Right after the market opened, the market fluctuated around the level of 765 points and prolonged this movement until late afternoon. However, at the ATC session, the market reversed and gained considerably due to strong demand for stocks such as VIC, VNM, HBC and HAG. The stocks group contributed upside for market on today trading session including VIC (+0.89 points), VNM (+0.53 points), MBB (+0.26 points), and VCB (+0.24 points). In the opposite direction, stocks group held back market’s momentum including STB (-0.15 points), DHG (-0.13 points), GAS (-0.13 points), FPT (-0.10 points). The market money flows concentrated into the large capital stocks in different industry sectors. In banking sector, the differentiation occurred when VCB, MBB, ACB, BID, CTG gained and EIB and NTB declined. Hot speculative stocks such as OGC, PPI, CCL, PVX, PVL and PVL hit the floor price today ending the strong gained from the previous sessions. Market breadth returned into positive status with winners overwhelming the market (135 winners / 121 loser). The market liquidity decreased compared to the previous session with the trading value of VND 3,369.9 billion. At the end of today session, VN-Index increased 2.80 points (+ 0.37%) and closed at 769.36 points; The HNX-Index also increased 0.05 points (+ 0.05%) to 100.42 points.

Market Outlook
After two consecutive strong correction session, the market began a new recovering momentum in the session today. Market cash flow exited the small-cap stocks and focused mainly on Bluechips-industry leading stocks. These stocks were at attractive price to investors after correcting in two recent sessions. The fluctuating range of the market was narrowed with the different of 7.79 points between the highest point and the lowest one. BSC expects that the market will be traded in the range of 765-770 and may be break throughout the short-term resistance of 770 points once being supported by market liquidity in next sessions.