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Vietnam Daily Market Recap Sep 07

Daily Market Recap 07/09/2021    52

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Market Commentary: The VN-INDEX fell 0.3% as profit taking dominated late trading

The VN-INDEX lost 4.5pts today as large caps from the many sectors lost ground. After the opening bell, the VN-INDEX started nearly flat and fluctuated at the reference point throughout the morning session. Top movers today mainly came from Financials sector with VPB (+3.9%), CTG (+1.9%), TCB (+1.4%), BID (+1.5%), TPB (+4.6%), EIB (+4.2%), ACB (+1.4%), and MBB (+1.1%). These stocks contributed a combined 5.0pts to the index’s gain, thus keeping the index stay in the green territory in the afternoon session. However, as the index has increased for 5 consecutive sessions, profit taking activities emerged in late trading and forced many large caps to lose ground. VNM became the largest larggard today which fell 2.3% to VND86,300 and alone took 1.1pts from the index’s move. The stock was followed by VIC (-1.2%), GAS (-1.9%), HPG (-1.0%), and VRE (-3.2%). Thus the VN-INDEX was pushed down to its intraday low of 1,340.3pts (-0.4%) right before the ATC session. At the end of the session, the VN-INDEX ended in the red at 1,341.9pts (-0.3%) while the HNX-INDEX surged 0.3% to 346.5pts. 

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