Vietnam Daily Market Recap Oct 11 – Power sector

Market Commentary: Appetite for Real Estate and Banking stocks propelled VN-INDEX to rise 21.4pts

The VN-INDEX increased 1.6% on Monday’s session – the highest gain since 23 Jul, as investors sought to buy Real Estate and Financials large caps. Following last week’s optimistic sentiment, Vietnam’s main stock index kicked off the morning session boisterously since almost all large caps started trading in the green. Real Estate large caps exhibited an impressive performance today and contributed the most to the market’s advance. Specifically, VIC gained 2.9% to VND91,900 and alone added 2.6pts to the index. Other Vingroup’s stocks catching up with the advance included VHM (+1.4%) and VRE (+4.5%). Large caps from Financials sector also joined the rally, led by TCB (+4.5%), CTG (+5.3%), MBB (+4.0%), and BID (+2.0%), thus strengthening the upward momentum and keeping the index to stay in the green territory throughout the session. On the other hand, very few large caps fell under selling pressure, including NVL (-0.5%), LGC (-6.5%), BCM (-0.9%), DBC (-3.1%), and HDG (-1.6%).  At the end of the session, the VN-INDEX surged 1.6% to close at its intraday high of 1,394.1pts and the HNX-INDEX also increased 0.6% to 374.3pts. 

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