Vietnam Daily Market Recap Oct 03, 2022

Market commentary: Red color returned to cover the VN-Index after a spectacular reversal session on Friday last week

The VN-Index experienced another negative session on Monday when the red color covered with 449 losers, completely outnumbering 43 gainers. Right after the opening bell, negative sentiment enveloped the entire market, pushing the VN-Index down 6.3pts. The VN-Index traded below the reference level since the opening and continuously widened the decreasing range. The closer to the 1,100pts mark, the stronger the selling pressure. The Index dropped 27pts to 1,105 points at the end of the morning session, of which 28/30 stocks in the VN-30 traded in the red. Panic sentiment led to widespread selling pressure after the daybreak. Top laggards today belonged to the Banking sector with VCB (-3.6%), BID (-6.9%), TCB (-6.9%), CTG (-6.9%), and MBB (-6.5%). These stocks together took 11.6pts off from the Index’s move. Two big players in the Steel and Oil & Gas sector included HPG (-4.1%) and GAS (-4.8%) also ended in red hue, taking away 3.5pts from the VN-Index. On the other side, the green color glimmered in some stocks helping the market to have support, narrowing a part of the drop. Top movers today included VIC (+0.9%), PGV (+3.5%), and PDN (+7.0%). At the end of the session, the VN-Index plunged 4.0% to 1.086pts, losing the 1,100pts threshold. The decline of more than 4% also made the VN-Index leading in the world’s top stock indexes that fell sharply in the 03 Oct session.

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