Vietnam Daily Market Recap Feb 09 – Sector note

Market Commentary: The VN-INDEX hovered within a narrow range throughout the session

The VN-INDEX gained 4.4pts to 1,505.4pts, and fluctuated within a small range during the day. A little gap up of 0.7pts marked the market’s cautious start, barely enough to break past the critical psychological barrier level of 1,500.0pts. The steel and banking sectors continued to be bright lights as they rallied strongly at the start of the session, assisting the market in reaching its highest level of 1,511.7pts. However, as a result of negative developments in the Oil and Gas sector, as well as VIC continuing to be under pressure from net selling of up to VND260bn by foreign investors, the market quickly fell back to reference level before the morning session ended. In the afternoon session, the market moved continually around 1,506.0pts before entering the ATC session. HPG (+3.8%) was still the market leader today, providing 2pts to the market, followed by BID (+2.2%), DIG (+6.9%), SHB (+3.9%), and VJC (+2.7%). GAS (-3.5%), VIC (-1.8%), VCB (-1.3%), MBB (-1.5%), STB (-2.2%), on the other side, are the stocks that have contributed to the decline in the index. At the end of the session, the VN-INDEX inched up 0.3% to 1,505.4pts, while the HNX-INDEX increased by 1.5% to 424.2pts.

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