Vietnam Daily Market Recap Apr 18, 2022
Daily Market Recap 18/04/2022 52
Market commentary: VN-INDEX was subjected to panic selling pressure on a board scale
Stocks in almost all industry groups were under heavy selling pressure throughout the day, bringing the VN-INDEX further into negative territory and closing the session lower 26.0pts at 1,432.6pts. Following the sharp declines seen in the previous week, the VN-INDEX began negatively with a 3.6pts gap down on Monday. Selling targeted the majority of the vital sectors from the very beginning, with a particular emphasis on Energy, Financing, Material and Real Estate. When optimistic expectations were received, capital flow was drawn to equities in the Information Technology, Aquaculture, and Retail sectors; however, this growth was not enough to prevent selling in other sectors. Aside from that, Construction, Public Investment, and small & medium-cap stocks were the focus of panic selling force in the backdrop of consistently increasing material price, dragging the Index to the 1,436.1pts line. Following the unfavourable movement in the morning, the selling continued to increase in the afternoon session; however, the reciprocal bottom-fishing demand appeared at the support zone of 1,425.0 – 1,435.0pts, assisting the VN-INDEX to recover slightly before pulling back near this support once again as the ATC session is about to begin. In comparison to prior sessions, liquidity increased by around 20%, accompanied by an abnormally high level of positive market breadth. The effect of stocks on the downside outweighed the impact of stocks on the upside. VCB (-3.1%), CTG (-5.8%), VPB (-4.8%), HPG (-3.5%), BID (-3.4%) together removed 10.6pts from the Index, while stocks on the upside GVR (+2.2%), DIG (+5.6%), PNJ (+5.5%), VJC (+1.8%), VNM (+0.6%) added around 2.3pts. At the end of the session, the VN-INDEX decreased dramatically 1.8% to 1,432.6pts, and the HNX-INDEX dropped significantly 3.3% to 403.1pts.
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