Vietnam Daily Market Recap Jan 26

Market Commentary: The market hovered within a narrow range, with the final close of 1,481.6pts representing a slight increase of 0.1%

Throughout the day, the market fluctuated in a narrow range, ending the day slightly higher by 2pts, at 1,481.6pts. Following yesterday’s spectacular upstream session, the market began positively with a 6.1pts gain in ATO session. With the expectation that the VN-INDEX would rise significantly after the Lunar New Year, the Banking sector has continued to attract money flow, assisting the index to achieve intraday high of 1,490.5pts. After reaching the Technical Moving Average 20 (1,487.8pts), the market had a decline as selling escalated in certain key supporting stocks yesterday.  However, after returning to the reference zone, which is also the Technical Moving Average 50 (1,477.4pts), the market immediately rebounded before the morning session ended. The profit-taking action of the Real Estate sector prompted the market to return to  reference level in afternoon session, although with the assistance of the Oil & Gas sector. GAS (+2.5%), VPB (+2.9%), PLX (+4.%), CTG (+1.8%), and MBB (+2.2%) were among the positive stocks that contributed to the index’s advance. MSN (-3.9%), VCB (-1.4%), BID (-1.8%), PDR (-3.6%), and VCG (-6.9%), on the other hand, were among the stocks that contributed to the index’s deterioration. At the end of the session, the VN-INDEX slightly inched up 0.1% to 1,481.6pts, and the HNX-INDEX also increased 0.4% to 411.9pts.

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