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Vietnam Daily Market Recap Feb 25

Daily Market Recap 25/02/2022    106

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Market Commentary: In the afternoon session, the profit taking pressure halted the VN-INDEX’s recovery effort

Following the previous session with record bottom-fishing liquidity in the last 1 month, the VN-INDEX had a positive increase before profit-taking in the afternoon caused the market to pare its gains, ending the session with a slight gain of 0.3% to 1,498.9pts. In the context of the US stock market experiencing a reversal session and other stock markets being bounded in green hue after the economic sanctions packages against Russia were approved, the VN-INDEX opened positively with a gap up of 9.7pts. Many sectors witnessed substantial growth at the same time, particularly those that profited immensely from political tensions in Europe, such as Oil & Gas, Fertilizer, and Industrial, which were followed by Financials and Real Estate. When the morning session was about to end, the index surged to its intraday high of 1,512.0pts. Contrary to the positive sentiment in the morning, profit-taking pressure increased in the majority of industry groups as the resistance territory of 1,510.0 – 1,520.0pts approached. After the uptrend was stalled, the market corrected and breached the critical support level of 1,500.0pts prior to entering the ATC session. The names VPB (+3.5%), EIB (+3.9%), GEX (+4.4%), GVR (+0.9%), and TPB (+1.7%) were among making significant contributions to the index today. VIC (-1.2%), GAS (-1.5%), MSN (-0.9%), VJC (-1.9%), and VHM (-0.4%), on the other hand, were the pillars that had a negative impact on the index’s performance. At the end of the session, the VN-INDEX inched up 0.3% to 1,498.9pts, and the HNX-INDEX increased 1.2% to 440.2pts.

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