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Vietnam Daily Market Recap Apr 28, 2022

Daily Market Recap 28/04/2022    55


Market commentary: The VN-INDEX was flat, with liquidity dipping to its lowest level in the last six months

The market fluctuated within a narrow range, and when the liquidity evaporated, the session ended down 2.8pts to 1,350.9pts. US stocks inched higher amid mixed earnings on Wednesday as strong gains from Microsoft helped alleviate investor sentiment after a tech sell-off earlier in the week, while, VN-INDEX opened unchanged following a technical recovery session. The market struggled for most of the session, hovering around 1,350.0pts. Although stocks that had recently fallen sharply continued to recover technically for the third consecutive session, the market was dragged down by selling force of stocks in the VN30 bucket, which pushed the market to a session low of 1,344.1 points just as the morning session was about to come to an end. In the afternoon session, the market continued to trade with divergence; in fact, stocks that had recovered technically before were under pressure to take profits, while many equities had just begun to enter the recovery phase. Liquidity had dropped dramatically in the past two sessions (by around 40% compared to the average of 20 sessions), as the market’s sentiment had turned nervous after the rapid loss so the market was set to enter a long holiday period. GAS (-2.9%), MSN (-2.1%), SAB (-2.4%), BID (-1.3%), VHM (-0.8%) were stocks that put pressure on VN-INDEX. In the opposite direction BCM (+6.1%), HPG (+1.4%), VPB (+1.5%), TCB (+1.7%), FPT (+2.4%) contributed points to the market. At the end of the session, the VN-INDEX was almost unchanged and closed at 1,350.9pts, while the HNX-INDEX increased 0.9% to 360.2pts.

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