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Vietnam Daily Market Recap Mar 16 – MCH

Daily Market Recap 16/03/2022    40


Market commentary: The VN-INDEX performed cautiously, with a significant reduction in liquidity

After a tumultuous morning session in a tight range with a dramatic decline in liquidity, the VN-INDEX recovered in the afternoon, with Banking stocks serving as the market’s key foundation, the index closed at 1,459.3pts, marking its second straight session of technical recovery. In response to yesterday’s modest bounce, the market began favorably with a 7.0pts gap up. Although the gap increased after that, it was nearly closed by selling pressure in Real Estate and several other VN30 stocks. Before the morning session came to a close, the market had fallen to its session low of 1,452.7pts. Stocks in the Public Investment, Construction, and Banking sectors drew cash flow and assisted the Index in regaining momentum in the afternoon session. The market struggled around the 1,460.0pts threshold before entering the ATC session. Noticeably, the volume decreased by 20%/36% compared to yesterday and the first session of the week respectively, and foreign investors participated in the 8th net selling chain in a row, indicating that the market was preparing to receive important news such as the Federal Reserve’s rate announcement at 16 Mar 22 and the maturity of derivatives contracts the following day. With the assistance of a technical recovery session, VCB (+1.7%) has emerged as the primary pillar of the market, followed by GAS (+1.1%), MBB (+1.6%), DGC (+5.6%), and SAB (+1.8%). Indexes were dragged down by names like BID(-1.2%), VHM (-0.4%), HVN (-1.7%), VIC (-0.3%), and MSN (-0.4%) . At the end of the session, the VN-INDEX inched 0.4% to 1,459.3pts, and the HNX-INDEX increased by 0.6% to 446.2pts.

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