Vietnam Daily Market Recap Jan 19 – SZC
Daily Market Recap 19/01/2022 76
Market Commentary: The VN-INDEX climbed by 3.9pts to 1,442.8pts, extending yesterday’s afternoon rebound
The VN-INDEX climbed by 3.6pts to 1,442.8pts on the back of various market pillars. The VN-INDEX began on a positive sentiment as bottom fishing force and a number of stocks saw technical recoveries, and the index swiftly surged to its intraday high of 1,450.0pts. In contrast to yesterday’s role of market support, large-cap Banking stocks such as BID (-2.8 %), VCB (-0.9 %), STB (-2.9 %), and HDB (-2.8%) plummeted, prompting the VN-INDEX to rapidly reverse course to red territory. On the other hand, MSN became top mover and surged 3.8% when it reported a FY21 seven-fold increase in earnings compared to previous year. Moreover, several Real estate and Securities stocks saw a technical recovery session. Other market large caps such as BCM (+6.9%), GVR (+2.3%), VHM (+0.8%), SSI (+6.9%), and VND (+6.9%) also contributed to the index’s advance. After the market opened the afternoon session, it came under pressure from margin calls from stocks that had fallen to the floor over the last 5-6 sessions, forcing the market to drop to the red territory and oscillate about the reference level until the session ended. At the end of the session, the VN-INDEX was up 0.3% to 1,442.8pts, while the HNX-INDEX continued down 2.8% to 409.3pts.
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