Vietnam Daily Market Recap Mar 21 – Oil & gas sector
Daily Market Recap 21/03/2022 48
Market commentary: The VN-INDEX recorded an extraordinary resurgence session
Due to solid backing from the Real Estate group, Consumer Staples and VND1,100bn foreign investors net buy, the VN-INDEX maintained strong momentum by increasing 25.9pts to 1,494.9pts in today’s session. Given that the global market saw an impressive V-shaped recovery week, in which European equities reversed all losses since the Ukraine military conflict, and US markets recorded their best week since November 2020, the VN-INDEX began boldly with a rising gap of 5.6pts. Real Estate, Consumer Staples and Public Investment were noticed by the cash flow right from the start of the session. Certain stocks in the VN30 basket also climbed significantly, assisting the market to maintain its upward momentum despite the modest correction pressure from Banking stock. Hence, the index rose gradually and approached the critical Technical Moving Average 20 (1,483.0pts) support level. Following the bullish movements of the morning session, VN30 stocks continued to draw in cash and served as the primary driver of the VN-INDEX to break the MA20 barrier. Green color spread on VN-INDEX, resulting in more than 300 advancers. Before entering the ATC session, the market maintained its momentum and reached an intraday high of 1449.9pts. Large-cap stocks played a significant role as the top six stocks contributed total approximately 14.0pts for the index’s advance, including VHM (+3.9%), NVL (+6.9%), MSN (+6.1%), GAS (+4.7%), VIC (+2.8%), and VNM (+2.1%). On the other hand, the impact of declining stocks on the market were disproportionate when compared to the contributors, such as VJC (-3.3%), HPX (-4.5%). At the end of the session, the VN-INDEX rose 1.8% to 1,494.9pts, and the HNX-INDEX increased impressively 1.6% to 458.3pts.
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