Vietnam Daily Market Recap May 18, 2023

Market commentary: The VN-Index gained 7.9pts in the derivatives maturity session

Blue-chips stocks dominated the VN-Index’s performance today, which finished with an increase of 7.9pts to 1,068.3pts. U.S. stocks advanced on Wednesday as investors grew more confident that the White House would reach a deal with Congress to avoid a government default. Joining the overnight rally, the VN-Index opened with a decent gap-up of 3.6pts, then moved in a tight range for the rest of the morning. The morning rise was led by several blue chips, such as VCB and VHM, which then spread gains to the Banks and Securities sectors. After the noon break, the VN-Index immediately accelerated as money was flocked into pillar stocks, pushing the main index to its intraday high of 1,072.7pts. The Securities group continued to draw in more capital as many stocks posted significant gains. VCB (+2.4%) became the market leader today, solely contributing 2.6pts to the index. It was followed by VHM (+3.0%), GAS (+1.2%), FPT (+1.7%), and VIB (+3.1%). On the other hand, top laggards today included DIG (-7.0%), BID (-0.3%), HDB (-1.0%), and PNJ (-1.5%). At the end of the session, the VN-Index increased 0.7% to 1,068.3pts and the HNX-INDEX inched up 0.1% to 213.0pts.

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