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Vietnam Daily Market Recap Sep 30, 2022

Daily Market Recap 30/09/2022    71

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Market commentary: Strong recovery effort in late trading, pulled the index back into the green territory

The VN-Index showed an impressive bounce in the last weekday session, edging up 6.0pts to 1,132.1pts thanks to the strong rise from almost all large caps in late trading. Following the negative sentiment from previous losing sessions, the VN-Index start its morning gloomily with a 10.0pts gap down. After that, the downtrend gradually accelerated toward the end of noon break. In the afternoon session, selling pressure continued to increase strongly, and at one point, pulled the index below the 1,000pts level, with several stocks dropping to their full range. The theatricality kicked in right after that when strong bottom-fishing cash flow suddenly emerge, dragging a series of stock out of the floor. Several midcaps turned spectacularly from a deep decline to strong closing increase and somes even touched the “purple” ceiling. Therefore, right before the close, the strong recovery helped the market to crawl back into green territory and close at a gaining session. GAS (+4.8%), BCM (+6.9%), FPT (+4.5%), CTG (+2.7%), BID (+1.2%) and VRE (+2.9%) were today’s top movers, contributing the most for the index’s gain. On the other hand, some of the large caps recorded a losing session, led by VCB (-1.1%), EIB (-6.9%), HPG (-2.1%), PLX (-4.2%), and TCB (-1.5%). At the end of the session, the VN-Index increased 0.5% to 1,132.1pts, and the HNX-Index also edged up slightly 0.3% to 250.3pts.

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