Vietnam Daily Market Recap Mar 04 – DBC & VRE

Market Commentary: The VN-INDEX went sideways due to large-cap stocks divergence

Even while large-cap equities struggled, small and medium-cap stocks, particularly the public investment sector, saw significant increases, the VN-INDEX closed almost unchanged from the previous day at 1,505.3pts. Despite the tremendous surge that occurred yesterday, the market began cautiously with a gap up of 1.8pts. Right from the start of the session, the market experienced a clear divergence: sectors that had directly benefited from military tension were subjected to heavy profit-taking pressure, while small and medium-cap stocks, as well as the banking sector, saw significant gains. The market fought around the reference level, sometimes retreating to test the crucial support level The Moving Average 20 (1,500.0pts) right before the morning session concluded. Afternoon trading saw ongoing selling pressure directed at beneficiaries, while construction and public investment stocks saw an increase in cash flow as a result of positive news that the public investment package under the VND350,000bn program would begin to take shape next month. Prior to commencing the ATC session, the VN-INDEX climbed slightly to approach the 1,510-1,520pts resistance region, after which it turned to correct to the reference level. When foreign investors concentrated on net buying up to about VND900bn in a single day, VPB (+1.7%) was the stock with the largest score contribution today, followed by MSN (+1.4%), VRE (+3.2%), ACB (+2.5%), and BID (+1.2%). GAS (-2.2%), SAB (-4.3%), VCB (-0.7%), PLX (-2.7%), VJC (-2.8%), and NVL (-1.3%), on the other hand, were among the names that contribute to the Index’s depreciation. At the end of the session, the VN-INDEX unchanged and closed at 1,505.3pts, and the HNX-INDEX inched up 0.3% to 450.6pts.

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