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Vietnam Daily Market Recap Mar 30 – ETF Monitor

Daily Market Recap 30/03/2022    61

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Market commentary: The VN-INDEX varied across a wide price range.

VN-INDEX had a tumultuous session in which banking stocks attracted capital flow at the same time as most other sectors were under intense selling pressure. While the World Indexes rose when Russia said that it will “dramatically reduce” military activity around Kyiv, the VN-INDEX began in pessimistic sentiment with a 5.6pts gap down, reacting with the news that notable chairman of some listed companies was embroiled in legal issues. The group of stocks related to this chairman immediately suffered from strong selling pressure from investors. In the middle of the morning session, the market witnessed the buying demand from investors emerging in most of the stock sectors, led by Financials causing VNINDEX to return to the green territory and reached the intraday high at 1503.9pts. However, VNINDEX once again failed to surpass the critical psychological resistance mark of 1,500.0pts because the taking profit grew considerably at this point, leading the market to stay in the red zone and hit its intraday low of 1483.9pts before entering the ATC session. Bank equities prevented the VN-INDEX from falling too far into the negative territory as stocks such as BID (+2.7%), VIB (+4.7%), MBB (+2.0%), SSB (+4.2%), VPB (+1.1%) and HDB (+2.7%) contributed 4.4pts to the Index, while Real estates stocks like by NVL (-3.0%), DIG (-6.4%), VHM (-0.9%), GVR (-1.9%) taken 3.5pts away from the index. At the end of the session, the VN-INDEX edged down 0.5% to 1,490.5pts, and the HNX-INDEX decreased 2.2% to 451.2pts.

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