Vietnam Daily Market Recap Mar 24, 2023

Market commentary: The VN-Index maintained its uptrend position, backed by Real estate sector

VN-Index maintained its green position for the fourth consecutive sessions, edging up 1.7pts to 1,046.8pts, thanks to strong performance among Real Estate large caps. Following the positive sentiment in the previous session, the VN-Index moved up into the green territory right after the opening bell. However, the uptrend quickly halted as several Financials pillars turned down, causing the index to retreat back to the reference level before noon break. A strong buying demand kicked in in the afternoon session, bringing the index to its intraday high of 1,052.8pts, before being pressed down again toward the end of the session. Real Estate sector became the major driver today, led by NVL amid the company’s positive news regarding the extension of its bond’s maturity date. Therefore, as NVL reached the ceiling, the positive sentiment spread out, bringing several Real Estate stocks up sharply such as NLG, PDR, SCR, VHM. Therefore, VHM (+2.1%), VIC (+0.9%), MBB (+2.0%), NVL (+6.8%), GVR (+2.1%) became today’s top movers, leading the market to stay in the green hue. On the other hand, VCB (-1.9%), BID (-0.8%), MSN (-1.3%), CTG (-0.7%) were today’s laggards. At the end of the session, the VN-Index edged up 0.2% to 1,046.8pts, and the HNX-Index also increased 1.2% to 205.7pts.

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