Give us your feedback

Vietnam Daily Market Recap Mar 03

Daily Market Recap 03/03/2022    73

Share

Market Commentary: VN-INDEX made a fantastic reappearance

The VN-INDEX had a solid gaining day with positive market breadth, and after the session, the Index had gained 1.3% to 1,505.0pts. Despite the considerable decline seen yesterday, the market began positively with a 7pts gap up. The market experienced a significant divergence from the beginning of the session when the industry groups that directly benefited from the military tension in Ukraine continued to grow strongly, such as Fertilizer, Oil & Gas, Material, Textiles, and Chemicals, while other industry sectors, the majority of which are subject to correction pressure. For the most of the morning session, the market hovered around 1,490.0pts. Opening the afternoon session, the groups that had gained ground in the morning session continued to make large advances, while the banking sector had a significant resurgence. With strong consensus, particularly in VN30, the VN-INDEX climbed significantly and consistently, surpassing critical resistance levels such as The Moving Average 20 (1,497.0pts), psychological resistance of 1,500.0pts just before entering ATC session. HPG (+6.8%) was the stock with the largest point contribution to the market, with a value of 3.7pts and followed by VPB (+2.6%), GVR (+2.5%), NVL (+2.1%), CTG (+1.9%), and GAS (+1.3%). Stocks having a negative correlation to the index, such as SAB (-1.1%), VJC (-1.1%), LGC (-6.7%), and POW (-1.4%), had minimal influence on the index on the other hand. At the end of the session, the VN-INDEX Increased strongly 1.3% to 1,505.0pts, and the HNX-INDEX rose 1.6% to 449.3pts.

Read the full report: HERE

DMCA.com Protection Status