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Vietnam Daily Market Recap Jan 28

Daily Market Recap 28/01/2022    111

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Market Commentary: the last Lunar new year trading session ended with a small recovery of 8.2pts to 1,478.9pts on the VN-INDEX

VN-INDEX increased slightly by 0.6% to 1,478.9pts in the last trading session of the Lunar new year. After failing to test the critical resistance level Technical Moving Average 20 (1,485.0pts) in the previous two sessions, the market began cautiously with a gap down of 2.6pts. The INDEX quickly gained momentum thanks to the strong support of the VN30 group, notably the Banking sector, and eventually faced the MA50 (1,478.0pts) resistance. But as the morning session came to a close, profit-taking pressure prompted VN-INDEX to close near to the reference level. In the afternoon, Oil & Gas stocks fell dramatically, sending the index into the red, but Consumer Discretionary and Banking stocks immediately aided the market’s recovery and gained sufficient ground to retest a key resistance level MA20 (1,485.0pts). Market conditions remained challenging as demand in Year ending session was very sluggish, and during the ATC session, several key stocks were unexpectedly sold in huge volumes, leading the VN-INDEX to fail to reclaim MA20 (1,485.0pts) for the third time. Top leaders of the market today as VPB (+3.4%), FPT (+4.2%), TCB (+1.7%), TPB (+4.4%), EIB (+6.1%) ), MBB (+2.1%). In the opposite direction, VCB (-2.2%), GAS (-2.5%), VHM (-0.9%), DIG (-6.9%), PLX (-1.9%) are the cause of VN-INDEX’s loss. At the end of the session, the VN-INDEX climbed by 0.6% to 1,478.9pts, while the HNX-INDEX increased by 1.33% to 416.7pts.

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