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Vietnam Daily Market Recap Jun 30, 2022 – Navi

Daily Market Recap 30/06/2022    372


Market commentary: Today, VN-Index was under correctional pressure

After a string of significant increases, the VN-Index was under selling pressure in the majority of sectors and closed at 1,218.1pts, unchanged from the previous session. A sharp decline in tech stocks led US equity markets lower on Tuesday, as investors took fright from a report showing that US consumer confidence continues to sour, and the VN-Index opened negative with a gap down of 9.9pts. However, this decreasing gap was swiftly filled following a significant rise in demand in Banking, Securities, and Industrial Real Estate when these sectors were provided with a substantial amount of supporting information. However, as the market got closer to the level of reference, there was an immediate increase in selling across the entire market. This was certainly relevant in the Real Estate, Oil & Gas, and Energy sectors, which caused the Index to fall back into bearish territory as the morning session was about to come to a close. During the afternoon session, the VN-Index fought around the level of 1,210.0pts until the bottom-fishing cash flow re-entered the market, which assisted in the recovery of the Index, prior to the beginning of the ATC session. Not only did the cash flow go to sectors with strong momentum in recent times, such as Securities, Banking, and Materials, but also to groups that suffered from corrective pressure in the past few days, such as Seaports Industry and Aquaculture. Notably, the market did not change the score, but the number of losers predominated when a series of equities were under pressure to take profits following the recent rally. BID (+3.7%), VNM (+2.1%), GAS (+0.9%), BCM (+2.4%), HPG (+1.1%), CTG (+0.6%) contributed to a total of 3.9pts, while VCB (-1.1%), GVR (-2.6%), VHM (-0.8%), SAB (-1.9%), EIB (-4.6%), PLX (-1.9%) took away 3.5pts from Index. At the end of the session, the VN-INDEX was unchanged and closed at 1,218.1pts, while the HNX-INDEX decreased slightly by 0.5% to 282.4pts.

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