Daily Market Recap June 20, 2024

Market Commentary: Stocks end higher in choppy trading

The VN-Index fluctuated between positive and negative territory on Thursday, closing up with a small gain of 0.2%, or 2.51 points, to 1,282.3. However, only 189 tickers increased while 242 declined. The HNX Index also rose by 0.2% to 243.97.

Almost all sectors rose today except for Financial Services (-0.74%), Automobile & Parts (-0.3%), Insurance (-0.2%), and Personal & Household Goods (-0.1%). Industrial Goods & Services (+2.8%) outperformed other sectors, led by RAL (+7.0%), ACV (+3.7%), TV2 (+3.4%) and VTP (+2.8%). Another top performer was the Technology sector, led by FPT (+1.4%) and SAM (+2.6%).

Banks (+0.04%) also rose slightly today, with VPB (+3.7%) and TCB (+2.7%) the top performers. Unsurprisingly, these two stocks were the top movers today, contributing 2 points to the index.

TCB rose 2.7% today after increasing its charter capital from equity capital by issuing shares at a 1:1 ratio. The total newly issued shares amounted to 3.52 billion, equivalent to VND35.5tn (USD1.4bn).

Foreign investors continued to sell for a twelfth day with a net selling value of VND992bn (USD39mn) today, focusing on FPT (VND265bn, USD10.4mn), VRE (VND97.5bn, USD3.8mn) and VHM (VND92.6bn, USD3.6mn). According to Bloomberg statistics, the foreign net selling value included VND85bn (USD3.3mn) from ETFs today and VND1.5tn (USD59mn) over the past 12 days. On the contrary, TCH (VND108.5bn, USD4.3mn), VNM (VND49.3bn, USD1.9mn) and VPB (VND41bn, USD1.6mn) were mainly bought.

VPB (+3.7%), TCB (+2.7%) and FPT (+1.4%) were today’s biggest movers, contributing 2.6 points to the index while BID (-1.3%), VCB (-0.7%) and CTG (-0.9%) dragged on the index by 2.1 points.

Read the full report: HERE