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Vietnam Daily Market Recap Jul 21, 2022 – SCS & ETF Monitor

Daily Market Recap 21/07/2022    52

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Market commentary: The derivatives maturity session saw significant VN-Index volatility

Today’s session ended with a minor uptick of 4.3pts, at 1,198.5pts, as the market fought above the reference level with high frequency due to the derivative maturity session. Wall Street technology stocks rose on Wednesday, with strong gains for streaming companies after Netflix lost fewer subscribers than feared in the second quarter, and the VN-Index opened positively with a gap up of 4.3pts. Correction stress was felt across the board for small and medium-sized equities, but primarily in the Construction, Materials, Security, and Real Estate sectors. However, the morning session saw the Index quickly rally to the critical psychological resistance level of 1,200.0pts as the capital flow moved to the large-cap bucket, Banking, Retail, and Oil & Gas, outweighing the negative pressure from other sectors. The afternoon session market was extremely volatile, trading with high frequency in a narrow range as a result of pressure from both supply and demand and several pillar stocks. Before the commencement of the ATC session, the VN-Index had a closing value of 1,196.2pts. VHM (-1.3%), BCM (-1.3%), PLX (-1.2%), BVH (-1.4%), PGV (-1.6%), and SHB (-1.0%) were stocks that put downward pressure on the market. On the other hand, MWG (+4.7%), MSN (+2.4%), SAB (+3.3%), CTG (+1.7%), GAS (9+1.1%), and HPG (+1.6%) were the stocks that supported the Index. At the end of the session, the VN-INDEX decreased slightly by 0.4% to 1,198.5pts, and the HNX-INDEX plummeted marginally by 0.3% to 288.1pts.

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