Vietnam Daily Market Recap Mar 17 – NVL

Market commentary: The VN-INDEX remained cautious and shifted up modestly in today’s session

The VN-INDEX continued its uptrend momentum for the fourth consecutive days, edging up modestly 2.0pts to 1,461.3pts, but market liquidity remained low due to cautious sentiment regarding the recent geopolitical uncertainty. The index opened its morning session vibrantly with 7.0pts gap up and remained the upswing to soon touch its intraday high of 1,467.7pts thanks to strong performances among Financial and Real estate large caps. However, the uptrend then decelerated right before noon break and held the downward position until the afternoon session. Several commodity stocks such as Oil & Gas, Fertilizer, and Steel large caps suffered a slump in the context of world commodity price recovery, causing the index to retreat back to its reference threshold. However, Financial large caps appeared as the market pillar, helping the index to rebound as soon as its touch the reference point, including BID (+4.6%), CTG (+2.2%), VCB (+0.6%), SHB (+1.6%) and HDB (+1.3%). In contrast, GAS (-2.9%), DCM (-6.8%), HPG (-0.5%), DPM (-4.1%), VNM (1.2-%) and MSN (-1.8%) become today’s top laggards and together erasing about 3.6pts from the index. At the end of the session, the VN-INDEX edged up 0.1% to 1,461.3pts with a modest liquidity value of VND21.390bn. The HNX-INDEX remained flat by inching down 0.02pts to 446.5pts.

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