Vietnam Daily Market Recap Feb 17

Market Commentary: The green hue predominated in the large-cap stocks, assisting the VN-INDEX to gain 1.1% to 1,507.9pts

During the derivatives expiration session, the VN-INDEX breached the important resistance level of 1,500.0pts, supported by a strong consensus among Blue-chip stocks. The market began cautiously with a modest gap up of 1.9pts. After being sold under pressure in the early morning, Oil & Gas, and several Banking stocks, drew flow of money once again, assisting the VN30 basket to achieve a high level of consensus. The index rose sharply and came close to reaching the critical resistance level of 1,500.0pts before reversing course with unexpected selling among Vingroup related stocks as the morning session closed. After a success gain in the morning session, the VN30 basket continued to play a key role in the afternoon, helping the VN-INDEX to break over the resistance level of 1,500.0pts. Large cap pillars maintained their robust performance and finished at intraday high in the ATC session, which coincided with the expiry of derivative contracts today. GAS (+3.7%), MSN (+3.1%), VHM (+1.0%), BID (+1.9%), VPB (+1.8%), BCM (+3.3%) were the top movers, contributing the most to the index’s advance. Meanwhile, declining stocks had minimal influence; PGV (-2.5%) and SSB (-1.4%) both took away barely 0.5pts of the market. At the end of the session, the VN-INDEX surged 1.1% to 1,507.9pts, while the HNX-INDEX increased slightly 0.3% to 430.2pts.

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