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Vietnam Daily Market Recap Jan 16, 2023 – KBC

Daily Market Recap 16/01/2023    72


Market commentary: Banking sector was the market pillar, VN-Index continued its sideways trend

The VN-Index gained 6.5pts to end at 1,066.7pts on the back of the banking sector. On a global basis, U.S. three main indexes ended last week higher, as investor’s sentiment remained positive after a better-than-expected CPI report. Although the gains of global indexes supported the upward trend of the VN-Index at the opening bell, the selling pressure from the Real estate sector quickly made the index decrease. It then hit the intraday low of 1,066.4pts, strongly affected by the decrease of Real estate stocks like VIC, VRE, and NVL. However, the rise of banking stocks in the late morning session helped the index to bounce back above its reference level before the noon break. Throughout the afternoon session, the rising momentum of the VN-Index continued to be supported by banking stocks. BID hit the price ceiling, while VCB and CTG gained significantly. The construction sector also surged with the rise of notable stocks like HHV, VCG, and C4G. The market mover included BID (+7.0%), VCB (+1.8%), CTG (+3.1%), ACB (+3.5%), and GVR (+4.5%). On the other hand, VHM (-1.4%), GAS (-1.4%), VNM (-1.5%), NVL (-4.6%), and HVN (-2.4%) were the top market laggards. At the end of the session, the VN-Index rose by 0.6% to 1,066.7pts, while the HNX-Index was down by 0.2% to 210.9pts.

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