Market Recap - Another gloomy day


▶ On the Thursday's trading session, the stock market was like a gloomy roller coaster. The red vibe still dominated in the morning session. The market then improved and had a mix among industry grups thanks to some large cap stocks attracting the cash flow, helping the market close at reference level. Weak volume and still way below the 20-day average.

▶ At the end of the trading session, VN-Index decreased 0.36 points (-0.03%), reaching 1,258.20 points; HNX-Index increased 0.28 points (+0.12%), reaching 239.07 points. Market volume reached VND 16.5 trillion, equivalent to about 686.8 million shares traded. Foreign investors were net bought VND 42.98 billion, focusing mainly on VPD, TCH, and SSI.

▶ Technical perspective: After the US CPI data was higher than the forecast, the market opened by 8 points downward to 1,249. However, the selling pressure was not strong enough, helping the market to recover and ending the session at the reference level. The market continues recording low volume and testing around the 1250 support level. Currently, VN-INDEX is still well-bouncing around the balance zone. In a positive scenario, VN-Index needs to continue to accumulate with low volume and wait for a reversal signal with improved demand and well-spread among industry groups.

Strategy: Investors should watch and wait for a clearer recovery of stocks having good accumulation base.

Phuc Nguyen

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