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Vietnam Daily Market Recap Jul 26, 2022

Daily Market Recap 26/07/2022    146


Market commentary: The VN-Index maintained its course correction and accumulation above the critical support level

Morning gains on the VN-Index were blown away by substantial selling in the afternoon, sending the index down by 3.4pts, to 1,185.1pts at the close of trading. Wall Street stock markets delivered a mixed performance on Monday as cautious investors looked ahead to a week of Big Tech earnings and a crucial interest rate decision from the US Federal Reserve and the VN-Index opened cautiously with a gap up of 0.7pts. In a session marked by a steep decline in liquidity (20% lower compared to the average of the previous 10 sessions), the VN-Index again traded sideways within a limited range. Generally, the Index was affected by the small ebb and flow of VN30 stocks. The afternoon session saw substantial selling across the board, but particularly in sectors that had recently seen strong gains, such as Securities, Industrial Real Estate, Aquaculture, Material, and Retail. Prior to the start of the ATC session, the market had slipped into the red, touching the key support level of Technical Moving Average 20 (1,183.0pts). The stocks exerting strain on the index include VIC (-1.8%), VNM (-1.2%), HPG (-1.1%), REE (-4.2%), VHM (-0.3%), and VHC (-5.2%). VCB (+1.4%), MSN (+1.3%), SAB (+1.6%), BID (+0.4%), BCM (+1.0%), and KDH (+2.1%) today supported the market. At the end of the session, the VN-INDEX decreased slightly by 0.3% to 1,185.1pts, and the HNX-INDEX decreased considerably by 0.9% to 282.9pts.

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