Vietnam Daily Market Recap Feb 16, 2023 – BVH, ACV & PTB

Market commentary: The VN-INDEX grew for a second day

The VN-Index fluctuated throughout the day but it rallied sharply in the late afternoon to conclude the trading day 10.1pts higher at 1,058.3pts. Following the positive sentiment of the previous trading session, the VN-Index quickly increased 4.4pts to reach 1,052.4pts right after the opening bell. Since then, the market had been trading in a narrow range as divergence has emerged among large caps. Notably, liquidity on HOSE slumped 30% compared to yesterday morning as a result of expiration-day effects. Following the constructive moves that occurred in the morning, the Index continued to make substantial progress toward a gain as capital flowed into blue-chips and Banking stocks then expanded to other sectors. The market experienced a robust recovery session for the second trading day in a row, which was accompanied by positive market breadth. In particular, BID (+2.3%) led today’s contribution when alone adding 1.3pts to the index, followed by CTG (+2.8%), HPG (+2.4%), VPB (+1.7%), VIC (+1.0%), and HDB (+3.9%). In contrast, VCB (-0.7%), DPM (-0.4%), and SVC (-5.2%) were the stocks that put pressure on the index. Moreover, Securities and Materials had a better than expected performance, especially NKG, HSG and VND, were also among performers elevating the market. At the end of the session, the VN-INDEX increased by 1.0% to 1,058.3pts, and the HNX-INDEX gained 1.4% to 210.8pts.

Read the full report: HERE