Vietnam Daily Market Recap Mar 08, 2023 – Banking sector

Market commentary: VN-INDEX witnessed an exploded trading session

The VN-INDEX gained 11.3pts to 1,049.2pts, the biggest rise in the last 5 trading sessions, as investors proactively focused on Real Estate stocks in the afternoon. Due to unfavored news from the speech of the Fed president, VN-INDEX suffered negative sentiment right after the opening bell, slumped to its intraday low of 1,027.8pts. However, the index gradually bounced back on the back of Banks. In the afternoon session, the buying demand targeted Real Estate stocks, dragging VN-INDEX back to the green hue. The positive sentiment spread out and became the growth engine for the index. BID became the largest mover, jumping 2.3% to VND48,000, followed by other Banks, including VPB (+4.3%), CTG (+1.4%), ACB (+2.0%) and VCB (+0.3%). On the other hand, MWG (-0.8%), SAB (-0.2%), PDN (-6.9%), KDC (-1.1%), and AST (-6.2%) were today’s top laggards. At the end of the session, the VN-Index rose 1.1% to 1,049.2pts, and the HNX-Index also edged up 0.6% to 208.7pts. Notably, VN-INDEX had the 3rd consecutive increase with increasing liquidity.

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