Vietnam Daily Market Recap Apr 06, 2022

Market commentary: The VN30 basket drew capital flow to assist the VN-INDEX recovery in late afternoon session  

The VN-INDEX saw a tumultuous session as real estate stocks came under selling pressure, however, large – cap stocks drew capital inflows aiding VN-INDEX back to reference level in late afternoon. In the context of the oil prices and stocks declined in Asia on Wednesday morning, as lockdowns across China depressed demand and traders weighed the risks of rising global inflation, VN-INDEX opened with a gap down of 6.8pts. The market opened in such pessimistic sentiment because of the news that a chairman of a noble real estate firm was arrested for his involvement in legal issues. As a results, the real estate sector stocks suffered from strong selling pressure. In the middle of morning session, the VINDEX moved back to green territory and reached its intraday high of 1523.8pts  as bottom fishing cashflow entered the market. However, the index failed to stay above reference level as profit taking activities emerged and targeted small and medium stocks from various sectors. The index was pushed down to its intraday low of 1507.62 in the afternoon session. Before market came to the ATC session, The VN30 basket drew capital flow to assist the VN-INDEX recovery and brought it to the bullish territory. Market pillars from VN30 joined the rally led by VCB (+1.9%), VPB (+4.3%), HPG (+2.5%), FPT (+6.8%), TCB (+3.7%), and MBB (+2.1%), contributed 7.4pts to the index. On the negative side of the index, the most significant stocks were VIC (-2.2%), DIG (-7.0%), NVL (-1.6%), VNM (-1.4%), and GEX(-6.5%). At the end of the session, the VN-INDEX slightly increased 0.2% to 1,522.9pts, and the HNX-INDEX dropped 2.3% to 446.8pts.

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