Vietnam Daily Market Recap Mar 01, 2023 – Market strategy

Market commentary: The VN-Index rebounded from the low of morning session

The VN-Index recovered in the afternoon with a rise of 15.9pts to 1040.6pts, backed by the support of the Materials and Securities sectors. After the opening bell, the VN-Index fell rapidly to its intraday low of 1013.4pts. The pessimistic sentiment pervaded the market for most of the morning session as bearish Real estate stocks of NVL, KDH, and NLG fell under strong selling pressure. However, bottom-fishing activities emerged in the afternoon and pushed the index to the green hue. The upward momentum was supported by the rally of the Material and Securities sectors. Besides, the Energy sector also enjoyed significant gains thanks to the increase in PVB, PVD, and PVS. BID (+3.5%) was the biggest supporter today, adding nearly 2pts to the index’s advance. Other market movers included HPG (+4.5%), CTG (+3.1%), STB (+7.0%), and GAS (+1.5%). On the other hand, VCB (-0.5%), MSN (-1.8%), VHM (-0.7%), NVL (-3.3%), and KDH (-3.1%) were the top laggarđs. At the end of the session, the VN-INDEX jumped 1.6% to 1040.6pts, while the HNX-INDEX increased by 2.2% to 206.8pts.

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