Daily Market Recap November 18, 2024 – TAL company report & VCB Analyst Note

Stocks rebound in afternoon to close little changed

The VN-Index dropped sharply in the morning session but recovered in the afternoon, closing down by only 0.1% at 1,217.0, a fresh three-month low. Total trading value decreased by 17.6% compared to Friday, to VND13.3tn (USD523.8mn). The HNX Index followed a similar trend, increasing slightly by 0.1% to 221.79.

Two stocks of the Hoang Huy Group performed strongly: TCH (+6.7%) closed at its ceiling price, while HHS (+5.3%) recorded a strong gain. These two stocks led the market, surging unexpectedly in the afternoon, while the broader market remained in the red. Revenue for the first half of TCH’s fiscal year nearly doubled YoY to VND2.24bn (USD0.1mn), primarily driven by accelerated handovers at the Hoang Huy New City 1 project.

Sectors that declined today included Banks (-0.1%), Real Estate (-0.1%), and Telecommunications (-0.7%). In contrast, sectors such as Industrial Goods & Services (+1.0%), Financial Services (+1.7%), Utilities (+0.5%), and Media (+1.2%) showed gains.

Top performers today included VHM (+1.4%), CTG (+0.6%), GAS (+0.6%) and HCM (+3.6%). Top laggards included VCB (-0.8%), MWG (-1.7%) and BID (-0.6%).

High-beta broker stocks bottomed out and rebounded before the market did, hinting at positive signals for other sectors. As a result, market breadth expanded in the afternoon, forming a recovery thanks to bottom-fishing. HCM (+3.6%), MBS (+3.8%), VCI (+2.2%), and FTS (+2.1%) all gained. These indicators suggest that the market is trending toward recovery, and some market participants’ sentiment is improving.

Foreign investors net sold today VND2.9tn (USD114.3mn), focusing on VHM with VND260bn (USD10.2mn), HDB with VND210bn (USD8.3mn), and FPT with VND178bn (USD7.0mn). In contrast, buying momentum was on MWG with VND163bn (USD6.4mn), FPT with VND150bn (USD5.9mn), and ACB with VND108bn (USD4.3mn).

Read the full report: HERE