Market Recap – Banking group pulls the market
02/01/2024

Summary

▶ During the trading session on the first day of the new year, market had a slight increase with the main contribution of the banking group.

▶ At the end, VN-Index increased 1.79 points, equivalent to 0.16%, reaching 1,131.72 points; HNX-Index decreased 1.05 points (-0.45%), reaching 229.99 points. Market liquidity reached 17.11 trillion VND, equivalent to about 842 million shares traded. Foreign investors net sold 353 billion VND, focusing mainly on FUESSVFL and SSI.

▶ Technical perspective: Regarding the index, VNINDEX closing above 1,130 is a positive signal that the market has surpassed the 1,130 barrier. However, the upward spread of today's session was low as there were 299 red stocks more than green stocks, and the large capitalization group had strong differentiation. Combined with the momentum indicator STOCH RSI is showing signs of cutting down the signal line, signaling a high possibility of the market moving sideways or correcting. Therefore, the base scenario is that the market goes sideways at 1,130 and then completely escapes this area with the highest probability of happening.

Category
Daily
Author
Diem Ngo
Details

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