Vietnam Daily Market Recap Feb 11 – GAS & TCB
Daily Market Recap 11/02/2022 55
Market Commentary: The market finished modestly down by 0.3% to 1,501.7pts, as a narrow range of volatility persisted
A tight range of fluctuations remained, with the market ending marginally down by 5.1pts at 1,501.7pts. The VN-INDEX began cautiously with a gap down 4.0pts, reflecting the fact that the US market had suffered a significant decline yesterday night over fears that the Federal Reserve might hike interest rates more dramatically than predicted. The market diverged from the beginning of the session. On one hand, Oil & Gas, and Banking stocks were the primary beneficiaries of cash inflows, while on the other, Aviation, Steel stocks, which had recently posted impressive gains, were under pressure to take profits. VN-INDEX moved in a small interval slightly below the reference level before closing at 1,503.7pts before the daybreak. After a volatile morning session, selling force managed to strengthen at VINGROUP-related stocks and Oil & Gas stocks were unexpectedly subjected to profit-taking pressure, forcing the market downward and tested to the psychological support level of 1,500.0pts. The bottom fishing effort in this area assisted the market in recovering and fluctuating before entering the ATC session. The stocks TPB (+4.0%), SAB (+1.7%), GVR (+1.0%), LPB (+3.6%), and STB (+1.6%) among those that have contributed to today’s gain. VIC (-2.7%), on the other hand, remained to be the dominant stock that depressed the VN-INDEX, as foreign investors sold the stock in large quantities for the 11th consecutive session, with a value of VND268.6bn. VCB (-1.4%), VRE (-3.9%), BID (-1.0%), and DIG (-5.4%) were among the other stocks that contributed to the total decrease. At the end of the session, the VN-INDEX slightly plumped by 0.3% to 1,501.7pts, and the HNX-INDEX decreased by 0.3% to 426.9pts.
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