Daily Review

20171012_BSC_Vietnam Daily Review_EN_Continued rising

Date

12/10/2017
Language

Tiếng Việt
Number of Downloads

15

Detailed report

Highlights
• Thanks to yesterday’s strong momentum, the morning session was bullish and surpassed the resistance level at 818 points. However, after that, the selling pressure was quite strong forcing VN-Index to increase slightly at session end.
• Stocks that contributed the most to index were SAB (+1.06 points), MSN (+0.77 points), GAS (+0.53 points), BVH (+0.5 points) and VJC (+ 0.29 points).
• Stocks that dragged the market down including BHN (-0.64 points), PLX (-0.46 points), VCB (-0.42 points), VNM (-0.29 points) and BID (- 0.2 points).
• The money flow today was at the same level as yesterday but did not spread-out among all stocks. The dis-synergy in the VN30 was even clearer. Under strong selling pressure, Banking, securities, and steel sectors turned in the other direction and decreased at today session end (except for VPB).
• The trading value of VN-Index today reached VND 3,200.4 billion. The daily trading range was 4.72 points. The market breadth was 125 shares increased / 141 shares decreased.
• At the end of the day, VN-Index gained 1.92 points (0.24%), closing at 815.87 points. On the contrary, HNX slightly rose by 0.27 points (0.25%), up to 108.38 points.

Market outlook
VN30 is having great influence over the general market as it is attracting investor's money. However, the disagreement between stocks is strong in this group. The number of gainers and loser is balanced. In addition, 820 is also a strong psychological resistance as the market index has a strong correction when the selling pressure increased, the banking stocks, after a bullish morning, turned back in the afternoon. However, the market was still strong with the support of large-cap stocks such as SAB, MSN, and GAS. BSC believed that the market is now completing an uptrend. However, with the resistance level at 820 points, it is likely that the market will fluctuate in the next few trading sessions. Investors can consider raising the stock proportion when the price is more reasonable.