Give us your feedback

6Vietnam Daily Market Recap Apr 26, 2022 – FMC

Daily Market Recap 26/04/2022    55

Share

Market commentary: After a string of days of steep declines, the VN-INDEX made an unexpected resurgence

There was a lot of emotion in the market today, with an amplitude of up to 80.0pts, as bottom-fishing demand to support the VN-INDEX surged by 30.4 pts, to 1,341.3pts. US stocks rebounded late on Monday after concerns about new lockdowns in China and fears of a slowdown in economic growth pushed investors to search for safety earlier in the day, while, VN-INDEX opened negativity with a gap down of 25.5pts following one of the most remarkable decline sessions. Almost from the outset, the index was under pressure due to forced selling from margin calls as well as panic selling centered on large-cap stocks, which pushed the market even farther into the negative territory. Following the market’s descent to its session low of 1,261.4pts, the reciprocal bottom-fishing demand became active throughout the entire market. Eventually, the index rebounded in a V-shape and sometimes gave back to its green hue before the morning session came to a close. The market fought around the reference level in the afternoon session before the capital flow continued to make its way to Banking, Oil & Gas, and Industrial sectors. As the ATC session was ready to begin, the VN-INDEX steadily increased and achieved a session high of 1,341.3pts, the highest level of the day. Foreign investors experienced their eighth consecutive net purchasing session, with a dramatic rise in volume (about 4.5 times) over the previous session. Contrary to yesterday, the contributor group dominated the losers when VPB (+6.3%), VHM (+3.2%), GAS (+4.3%), VIC (+2.4%), SAB (+6.7%), BID (+2.9%) added a total of 11.8pts, whereas VCB (-1.6%), VJC (-1.5%), BHN (-4.9%), CTR (-6.9%), HDG (-4.9%), PGV (-0.8%) only took away 2.4 pts from the market. At the end of the session, the VN-INDEX increased strongly by 2.3% to 1,341.3pts, and the HNX-INDEX rose by 2.3% to 345.2pts.

Read the full report: HERE

DMCA.com Protection Status