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Vietnam Daily Market Recap Apr 22, 2022

Uncategorized 22/04/2022    22


Market commentary: Following a string of sharp drops, the VN-INDEX saw its an indecisive session

The market saw a tumultuous session, with a spread of around 40.0pts, however with bottom-fishing capital flow activated in stocks with a significant discount, the VN-INDEX recovered 9.0pts to 1,379.2pts. After a series of sharp drops in the past 6 trading sessions, the VN-INDEX opened in the green territory with a gap up of 9.0pts thanks to the buying demand of investors for the Financial sector. Throughout the morning and early afternoon session, the market continued to remain above the reference level in the doubt of investors.  After many sessions of the market experiencing unexpected selling pressure after 2 p.m, investors were hesitant to enter the market, leading to low market liquidity until the middle of the afternoon session. Then, the selling pressure on major sectors was triggered, and the fear among investors after the continuous collapse prompted the VN-INDEX to plunge deep into bearish territory, pushing the VN-INDEX to its intraday low of 1352.4pts. The small and midcap stocks were under the strong selling pressure, particularly those that had not experienced a significant decline recently and the cashflow ran into the VN30 market pillars. However, before entering the ATC session, the buying demand merged and pulled the VN-INDEX to the green territory. Market pillars such as VCB (+4.8%), GAS (+7.0%), VPB (+3.7%), VHM (+1.1%), and BCM (+3.4%) have a positive correlation with the overall stock market. On the downside, the most significant stocks were GVR (-3.3%), BVH (-5.3%) and DIG (-6.5%). At the end of the session, the VN-INDEX closed up 0.7% to end at 1,379.2pts while the HNX-INDEX dropped 2.0% to 359.1pts.

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