Vietnam Daily Market Recap Mar 07, 2023

Market commentary: VN-Index partly regained its recent loss

The VN-Index rose 10.7pts to close at 1,037.8pts supported by large caps from the Finance sector. The VN-Index opened in a green hue with a more optimistic sentiment after the announcement of loosening bond regulation yesterday. The rise of stocks from the Steel sector like HPG, NKG, and HSG cemented the upward momentum of the VN-Index in the rest of the morning session. Moving to the afternoon, more large caps of the Banking and Securities sectors joined the rally such as HCM, SSI, HDB, BID, and CTG. Their gains supported the VN-Index rising to its intraday high of 1,043.9pts, before the profit-taking activities emerged in the late trading session. Notably, today marked the first-day foreign investors returned to the net buying position after two weeks. The market’s laggards were VCF(-7.0%), NVL (-1.8%), DIG (-4.8%), TCB (-0.4%), and HVN (-0.8%). However, these laggards were surpassed by the bullish large-caps, especially BID (+2.4%), MSN (+5.2%), VCB (+1.0%), HPG (+3.4%) and CTG (+2.3%). At the end of the session, the VN-Index surged by 1.0% to 1,037.8pts, while the HNX-INDEX moved up by 0.5% to 207.5pts.

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