20170726_BSC_Vietnam Daily Review_EN_Continue of rising momentum

Highlight

The market today continued to rise as the VN Index rose by 6.61 points to close at 773.88 points. The trading range decreased slightly with the gap of 8.96 points between the peak and bottom. The key stocks which helped the market continue to recover were VNM (+0.58 points), VIC (+0.53 points), GAS (+0.51 points), CTG (+0.44 points) and HPG (+0.41 points). In the opposite direction, the stocks which hindered the rising momentum were PLX (-0.11 points), SAB (-0.06 points), PGD (-0.03 points), KDH (-0.03 points) and TLG (-0.02 points). Market cash flow continued coming to Banking, Insurance, Real estate, Steel and Food. Leading stocks and supportive stocks continued to be targeted as there were 24 gainers in VN30. Market scale became even more positive than yesterday with 207 advancers/93 decliners. The market liquidity also recovered very well with the trading value of VND 3,213.6 billion, up by 24%. On HNX, HNX-Index rose by 1.62 points, up to 99.43 points with good liquidity as trading value reach VND 611 billion.

Market outlook

Today trading session witnessed the rebound in term of both liquidity and index points thanks to spreading trends of rising points in Largecap stocks and leading capital in the recent session. In which, the rebound trend had a major contribution from other banking stocks such as BID, CTG, MBB,… Although market liquidity had rebounded but remained at a low rate compare to its average rate. After today trading session, BSC analyzed that the market liquidity would rebound in the upcoming session but the rebound speed would not be high due to investor’s conservative sentiment. In addition, the short-term leading trend of Largecap stocks had high chance of causing the market to rebound back to the resistance level of 780 points.