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Vietnam Daily Market Recap Sep 13, 2022

Daily Market Recap 13/09/2022    37

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Market commentary: The VN-Index went sideways with remained low liquidity in another cautious session

The VN-Index continued its cautious sentiment, decreasing marginally 1.2pts to 1,248.4pts thanks to the solid traction in late trading from large cap pillars.  Right after the opening bell, the market started in a not-so-bright mood with a modest gap up of 3pts, however, that appears to be the intraday peak whereas the index started to drop right after that and moved around the reference level within a narrow range for the whole morning session. In contrast to the gloom of the market, the bright spot came from the agriculture sector, in which several sector pillars such as PAN, DBC, TAR, LTG, reacted to the expected rebound of global food prices. The momentum remained its trend when the afternoon session returned but started shaking harder in the late trading due to the sudden selling behavior spreading all over the market. However, the immediate strong traction from several Financials and Oil & gas large-cap stocks has prevented the index to sink further and retreat to near the reference level before close, including, CTG (+1.7%), GAS (+0.4%), BCM (+1.0%), VNM (+0.5%), and PVD (+5.0%). The strong rebound failed to pull the market back to the green as the red hue dominated the market, causing the index to close with a gap down. Several large-cap stocks recorded a losing session, including VHM (-1.1%), SAB (-2.1%), VCB (-0.6%), MSN (-0.9%), and PDR (-3.4%). At the end of the session, the VN-Index went sideway with a modest decline of 0.1% to 1,248.4pts, and the HNX-Index dropped 0.5% to 281.6pts.

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