Vietnam Daily Market Recap Jul 28, 2022 – NT2 & Meat production sector

Market commentary: The extraordinary was calling VN-Index

The VN-Index surged by 17.1pts, closing at 1,208.1pts on the strength of steady momentum and explosive liquidity. Global equities rose in the wake of the Federal Reserve’s second 0.75% point interest rate rise in two months, as hopes that the pace of monetary policy tightening could soon slow buoyed investor sentiment and VN-Index opened positive with a gap increase of 10.8pts. After hunkering down at the key psychological support threshold of 1.20.0pts, investors poured money into stocks that make up a disproportionately large share of the Index, such as Real Estate, Industrial Park Real Estate, and Financial. The cash flow had also been paying attention to small and medium-cap firms. The index achieved a high consensus and surged to 1,210.9pts in the morning, with liquidity growing considerably from yesterday. The VN-Index climbed to 1,214.0pts, its highest point of the day, but then reversed course and corrected marginally for the remainder of the afternoon. Before the start of trading at ATC, the Index had fallen to 1,206.0pts due to corrective pressure that was concentrated on some equities in the Real Estate, Insurance, Information Technology, and Livestock Industries. Notably, with liquidity at its greatest level in over a month (+75% from the previous session), the market rose substantially with an overwhelming number of gainers. The formation of a breakaway gap in today’s session suggested that the market’s mood had greatly improved. The strength of the index today was buoyed in major measure by small and medium-sized stocks. Indeed, just 5.6pts out of a total 17.1pts came from the gainer group, which included BID (+2.7%), VRE (+6.8%), BCM (+4.9%), GVR (+3.7%), SAB (+3.2%), and VPB (+2.5%). Conversely, equities exhibiting a negative correlation to the Index include BVH (-1.1%), DBC (-6.8%), FPT (-0.4%), FRT (-1.9%), HAG (-2.6%), and HNG (-2.3%). At the end of the session, the VN-INDEX increased considerably by 1.4% to 1,208.1pts, and the HNX-INDEX rose by 1.9% to 289.8pts.

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