Vietnam Daily Market Recap Aug 01, 2022 – PVT&VIB

Market commentary: The VN-Index saw its highest single-day rise in two months

Ending the session up 25.0pts at 1,231.4pts, the VN-Index recorded the greatest rise in the previous two months, with solid momentum and attaining a high consensus across most sectors. US stocks have rebounded from a tough first half of the year as easing expectations for interest rate rises and upbeat earnings from several big tech and energy companies delivered the best month of performance since 2020, and the VN-Index opened the month positively with a gap 2.8pts increase. From the very first minutes, investors’ focus shifted to the stocks of Securities firms, which served as a stimulus for growth in other sectors. Indeed, the sectors of Real Estate, Public Investment, and Materials, subsequently returned swiftly, with the liquidity of each share rising significantly. After that, the index in the morning session hit a resistance level of 1,220-1,230pts. Names of companies that have gained momentum since the morning session saw their cash flow surge sharply, confirming the favorable trends seen earlier in the day. The Banking sector played an essential role in bolstering the market, which pushed the VN-Index to a level of consensus acceptance. Additionally, there was a dramatic reversal in the direction of several groups of Seafood, Chemicals, and Consumption in the last minutes of the afternoon session that changed the color from red to green. The index continued its solid rally to a daily high of 1,231.4pts before the ATC session started. Liquidity remained robust, growing by 35% compared to the average of the previous 20 sessions and by 17.8% compared to Friday, both of which considerably reinforced the strong rise, with the number of gainers far outnumbering the number of losers. Today’s winners far outpaced the losers. In essence, the sum of the points earned in VCB (+3.1%), BID (+4.6%), HPG (+6.1%), CTG (+5.5%), MSN (+3.1%), and MBB (+3.3%) was 10.7pts. Yet the deductions from HNG (-6.3%), VSH (-3.3%), SVC (-6.6%), HDG (-1.9%), VGC (-0.7%), and BAF (-3.1%) were just 0.4pts. At the end of the session, the VN-INDEX rose by 2.1% to 1,231.4pts, and the HNX-INDEX increased strongly by 2.1% to 294.6pts.

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