Vietnam Daily Market Recap Dec 16 – Oil & Gas sector

Market Commentary: The VN-INDEX went sideways and closed at 1,476.6pts in today’s session

The VN_INDEX went sideways to close at 1,475.5pts due to the divergence among various large caps. The market started its morning session with positive sentiment and fluctuated around the reference level right after the opening bell. However, strong sell action suddenly emerged in the late afternoon session, pushing the index to its intraday low of 1,468.9pts. Several large caps contributed to the index’s loss including VPB (-2.7%), VCB (-0.8%), MWG (-1.7%), and HPG (-0.6%). However, the selling pressure then reversed as strong demand spread over the market in the ATC session, pulling the index to close in the green territory. Notably, BCM became today’s top leader by jumping 6.8% and alone contributing 1.2pts to the index. Other large caps also joined the rally, including DIG (+7.0%), POW (+6.8%), PDR (+3.9%) and VGC (+7.0%). At the end of the session, strong demand helped the VN-INDEX to jump above the reference level and only inched up 0.1% to 1,476.6pts. The HNX-INDEX also gained 0.7% to close at 457.0pts in today’s session.

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