Vietnam Daily Market Recap Jan 27, 2023

Market commentary: The green hue continued to predominate large cap stocks, supporting the VN-INDEX to gain 9.0pts

The VN-INDEX recorded a strong gaining streak for the fourth consecutive session, closed above resistance level of 1,100.0pts. Following the optimistic sentiment that dominated the market before Tet holiday, the VN-INDEX traded in the green territory throughout the day thanks to high demand for blue chips. For the remainder of the morning session, the index fluctuated closely around the 1,120pts mark, but selling pressure eventually emerged as market breadth shrank. In the afternoon session, profit-taking activities emerged and pushed several large caps down, especially Financial stocks including BID (-3.1%) and CTG (-2.4%). However, these laggards did not erode much of the upward momentum brought by the bullish large caps as the VN-INDEX swiftly recovered 5.0pts in ATC session. GAS (+3.5%), VIC (+3.1%), VHM (+2.1%), SAB (+4.0%), MSN (+1.7%), GVR (+3.4%) and HPG (+1.7%) were the top movers, contributing the most to the index’s advance. Meanwhile, declining stocks including BID (-3.1%), CTG (-2.4%), VNM (-1.6%), HVN (-3.4%), VND (-2.8%) and SSI (-1.2%) took away 3.9pts from the index. At the end of the session, the VN-INDEX increased 0.9% to 1,117.1pts, while the HNX-INDEX inched up slightly 0.4% to 220.8pts.

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