20170714_BSC_Vietnam Daily Review_EN_Sideway trading session

Highlight
Today, market fluctuated in a range from 776.88 to 780.65 points from ATO session to ATC session. VN-Index once reached the 780 points but the support in the market was not strong enough to maintain this level and the market index immediately fell. At the end of the afternoon session, VN-Index fell to the reference level due to selling pressure in large-cap stocks. Stocks that took points from market index today were VNM (-0.57 points), CTG (-0.42 points), BID (-0.28 points) and STB (-0.17 points). In the opposite direction, stocks that hindered the falling momentum market were DHG (+0.24 points), SAB (+0.21 points), GAS (+0.19 points), NVL (+0.14 points). Market cash flow mainly spread to pharmacy stocks such as DBD, TRA, PMC, DMC, DHT, DCL and DBT. Banking stocks all fell today as ACB, CTG, BID and MBB fell into red. In term of pennies stocks and small-cap stocks, OCG stock continued to attract large cash flow with over 10 million overbought shares; HAR also increased to its ceiling with no oversold share at the closing. Market scale was negative as the number of downsize stocks overwhelmed the market (115 upside stocks/ 128 downside stocks). The market liquidity was similar to the last session with the trading value of VND 3,105.7 billion/session. Sum up today session, VN-Index decreased by 0.70 points (-0.09%) and closed at 778.30 points; The HNX-Index also lost 0.33 points (-0.33%), down to 100.43 points.



Market outlook
After a consecutive rise of main stocks, they declined in today trading session due to short-term profit taking activities of investors. The breadth had returned to negative status indicating the pervasive cash inflow is reducing. The oscillation amplitude continued to decline with the difference between the peak and bottom price was 3.79 points. The decline in the oscillation amplitude suggests that the market may start its horizontal movement. BSC expects the market to continue its short-term resistance level of 775-780 points and may break the level of 780 points if liquidity is supported in the upcoming trading sessions.