Vietnam Daily Market Recap Apr 27, 2022

Market commentary: The VN-INDEX has had second recovery session despite of significantly lower liquidity

The index was under pressure for the most of the day, but pillar stocks that rebounded towards the conclusion of the session enabled VN-INDEX to restore the green color and gain 12.4pts to 1,353.8pts. European stocks fell on Wednesday following a torrid session on Wall Street, where the tech-heavy Nasdaq Composite share index posted its biggest single-day decline since September 2020, VN-INDEX followed with a negative gap down of 9.3pts. After the 1st recovery session following a string of steep decline, the VN-INDEX once again opened with negative sentiment when investors were afraid of entering the market. In the morning session, all sectors lost ground, led by Utilities and Consumer Discretionary. The VN-INDEX stayed in the red territory for almost the trading day before the buying demand emerged in late trading. The bottom-fishing cash flow made its way to the Real estate, Fishery and Construction sectors.  As the ATC session was ready to begin, the VN-INDEX steadily increased and reached its intraday high of 1,355.9pts. HPG (+3.2%)  was the biggest gainer of today session, alone adding 1.5pts to the index’s gain. Other market pillars also joined the rally, led by VCB (+1.2%), GAS (+1.8%) and MSN (+2.6%), further strengthening the VN-INDEX’s advance. On the other hand, few large caps fell under selling pressure, including VPB (-1.2%), VNM(-1.2%) and VRE(-1.8%). At the end of the session, the VN-INDEX increased by 0.9% to 1,353.8pts, and the HNX-INDEX surged  3.5% to 357.1pts.

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