Vietnam Daily Market Recap Oct 01 – Market strategy

Market Commentary: The VN-INDEX decreased in the first session of October

The VN-INDEX edged down 7.2pts to 1,334.9pts in the first trading day of October due the poor performances among Financial large caps. Right after the opening bell, the index fluctuated around the reference level and then inched up to touch its intraday high of 1,344.6pts (+0.1%). However, the uptrend momentum quickly narrowed down due to strong selling pressure, dragging the index back to the red territory in the morning session. In the afternoon session, the market seemed to recover due to the strong rise in the O&G stock groups with GAS becoming today’s top mover by increasing 6.7% and alone adding 3.3pts to the index’s advance. Other large caps also joined the rally, including HPG (+0.9%), POW (+2.1%), TPB (+2.4%), PDR (+2.7%), and PLX (+0.6%). However, strong selling pressure in Financial large caps suddenly emerged as soon as the market was about to recover back to reference level, including VCB (-1.3%), VPB (-3.0%), CTG (-2.1%), TCB (-1.2%), ACB (-0.2%), and BID (-1.6%). Hence, it sank the index to its intraday low of 1,333.6pts right after the close. At the end of the session, the  VN-INDEX edged down 0.5% to 1,334.9pts and the HNX-INDEX also declined 0.2% to close at 356.9pts in today’s session.

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