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Vietnam Daily Market Recap Jan 27

Daily Market Recap 27/01/2022    216


Market Commentary: The VN-INDEX fought against the Technical Moving Average 20 (1,487.0pts) resistance level, closing down 10.8pts to 1,470.8pts

The VN-INDEX struggled at the MA20 (1,487.0pts) resistance area, declining 0.7% to 1,470.8pts in today’s session. Following yesterday’s failure of retaking the key MA20 level, the market began cautiously with a 4.4pts gap down in the first minutes. The Banking sector, which had made substantial gains in recently, was under intense profit-taking pressure today, prompting the market to fall by 9.0pts sometimes. Then, as a result of bottom-fishing demand and support from other Blue-chip stocks, the VN-INDEX recovered, regaining the green territory, and retested the important resistance level of MA20 (1,486.3pts). However, as a result of the main Asian indexes being deeply in the red (Hang Seng, Shanghai Composite, Nikkei225), the market reversed course instantly and closed below the reference level before the conclusion of the morning trade. Opening the afternoon session, taking profit continued to escalate, causing the INDEX to pierce the support level of MA50 (1,477.9pts) before hitting the session low of 1,464.8pts. Here, bottom-fishing cash flow assisted the VN-INDEX in recovering some ground before entering the ATC session. VCB (-3.7%) had the most negative influence on the index, deducting 4.3 points, followed by MSN (-3.4%), HPG (-2.9%), CTG (-1.9%), and BID (-1.0%). On the other side, VNM (+4.3%) had the most remarkable advance in over last six months, adding about two points to the market, followed by SAB (+3.6%), TPB (+2.6%), SSI (+2.2%), VND (+3.3%). At the end of the session, the VN-INDEX decreased 0.7% to 1,470.8pts, while the HNX-INDEX slightly plumped 0.1% to 411.3pts.

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