Vietnam Daily Market Recap Nov 24

Market Commentary: The VN-INDEX edged up to 1,488.9pts and recorded a new all-time high

The VN-INDEX rose 25.2pts to its historic peak of 1,488.9pts in today’s session with strong support from almost all market pillars, especially Banks. After the opening bell, the VN-INDEX followed the optimistic sentiment from the previous day and started in the green and stayed in this territory for the whole morning session. The positive sentiment continued to dominate the market and the Banks sectors had an impressive performance today. As the afternoon session was nearing its end, buying demand emerged and overwhelmed all the market, pushing the VN-INDEX up to its historic high of 1,488.9pts. Notably, VCB was the biggest supporter, and its gains of 5.8% to VND104,800, alone add 5.5pts to the index gain. Other large caps catching up with the advance included TCB (+5.5%), MBB (+6.9%), CTG (+3.8%), BID (+3.0%). On the downside, some of the stocks still suffered from profit-taking in late trading, including HPG (-1.8%), GAS (-1.5%), VIC (-0.7%), GVR (-0.8%), BCM (-1.6%). However, their impact was minimal compared to the overall gain. At the end of the session, the VN-INDEX inched up 1.7% to close at 1,488.9pts, and the HNX-INDEX also increased 1.6% to 455.9pts.

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