Vietnam stock market started the new week with strong fluctuations as VN-Index exploded in the morning but selling pressure in the afternoon caused the index to reverse and used to drop below reference level. However, the green was still retained.
At the end, VN Index gained 2.83 points, or +0.2% and closed at 1,395.53. Market liquidity remained at a high level when the trading value reached VND 23,652 bn, equivalent to 795 mn shares traded. As always, foreign investors continued to net sell VND 606 bn.
GAS (+4.02%) maintained its gaining momentum leading the stocks that contributed positively to the VN Index, followed by VPB (+2.4%) and HPG (+1.05%). Meanwhile, the reversal of some big banking giants like CTG (-1.47%) and VCB (-0.52%), along with SAB (-1.72%) restrained the index's gain.
The large-cap divergence was part of the reason why VN-Index continued to struggle. The first session of the week also marked the comeback of securities stocks when most of them had a good gaining session. Besides, steel stocks witnessed a good gain, although the gaining momentum has shrunk partially.
Technically, VN Index ended the session forming a Doji candlestick pattern, showing that power between buyers and sellers are quite balanced, then confirmed that 1.4000 is a strong resistance level. Besides, the trading volume continued to improve, and the Bollinger Bands continued to widen, supporting a potential breakout of the index.
File format: pdf
Size: 192.53 KB