Vietnam Daily Market Recap Mar 18

Market commentary: The VN-INDEX remained its uptrend momentum and stayed in the green territory for entire session

Market sentiment remained positive, helping the VN-INDEX to gap up 7.7pts to 1,469.1pts for the fifth consecutive sessions as green hue spread on almost large-cap stocks. Following the upswing of four previous sessions, market sentiment improved with a 6.0pts gap up right after the opening bell thanks to strong support from Financial, Real estate and Technology pillars. Additionally, the Oil & Gas sector rebounded after the steep fall streak in previous sessions due to the concerns about  world supply shortage, causing oil prices to increase. The uptrend accelerated until the afternoon session, helping the index to touch its peak of 1,474.4pts. However, selling pressure then suddenly appeared in the second half of the afternoon, prompted the uptrend to calm down and failed to surpass the resistance level of 1,470.0pts. Several large caps contributed to the index deceleration, including SAB (-1.6%), MSN (-0.9%), SHB (-2.0%), EIB (-2.3%), VPB (-0.6%). On the other hand, VCB (+1.4%), GAS (+2.7%), FPT (+3.4%), VHM (+0.8%), HPG (+1.2%), and VRE (+2.3%) became the major contributors for the index’s advance. At the end of the session, the VN-INDEX rose 0.5% to 1,469.1pts and the HNX-INDEX also surged 1.1% to 451.2pts. 

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