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Vietnam Daily Market Recap Nov 29, 2022 -VHM

Daily Market Recap 29/11/2022    123


Market commentary: The VN-Index exploded with outstanding liquidity

Following yesterday’s positive sentiment, the VN-Index continued increasing robustly on the back of all market pillars. Right after the opening bell, the strong buying demand lifted the VN-Index up to 15pts. However, the news, which was the inflation in Vietnam surged by 4.3% mom, created a negative sentiment among investors. Therefore, the selling pressure appeared and pushed the VN-Index to the reference level at the end of the morning session. Many stocks have witnessed large price fluctuations, reaching the celling price in the beginning but soon returning to reference price. However, the market slowly witnessed cash inflow at the beginning of the afternoon session. Not until 2:00 PM, did the liquidity rise faster, becoming the engine of growth for the VN-Index to explode. However, the biggest surprise of today is NVL and PDR were rescued and officially hit the ceiling after nearly 20 consecutive floor sessions. The rising momentum spread out as many other Real Estate also hit the selling, leading this sector to become the strongest sector of today. Many market pillar stocks all increased sharply today like VIC (+6.8%), VCB (+4.0%), and VHM (+5.8%), together, contributing nearly 10pts to the market gain. Other top movers are named BID (+3.8%), and HPG (+6.4%). On the contrary, the top five laggards are named SAB (-0.6%), ACB (-0.4%), VIB (-0.5%), OCB (-1.0%), HPX (-6.9%). The explosion in liquidity lifted the VN-Index to surge 2.6% to 1,032.2 pts. Corresponding, HNX-Index also increased by 2.0% to 208.2 pts.

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