20170801_BSC_Vietnam Daily Review_EN_Hot market

Highlights
Today market participants witnessed a sudden increase of the market. Right at the opening session, the market increased significantly and fluctuated positively around the 784-786 in the morning session. In the afternoon session, the supportive force caused the market to rise significantly, nearly reached the 788 points level. Nevertheless, the force was not strong enough to maintain this level until the session end. The main supportive stocks that caused the market to rise were (+1.71 point), GAS (+1.01 point), VCB (+0.77 point), BHN (+0.42 point) and HPG (+0.2 point). In contrast, the stocks that limited the market uptrend momentum were VNM (-0.69 point), CTG (-0.47 point), MSN (-0.13 point), MWG (-0.1 point) and VIC (-0.08 point).The market cash flow rotated between different sectors and spread into Gas and Oil sector and Beverage sector. The differentiation occurred at the banking stocks when VCB, EIB and ACB rose while BID, CTG and MBB decreased. The market breadth changed into a negative state with the downside stocks dominated the market (124 upside stocks/ 159 downside stocks). Market liquidity increased slightly with a matching value of VND 3,654 billion, decreasing by 16% in comparison to the previous session. At the end of today session, VN-Index increased by 3.26 points and closed at the 786.81 points level; HNX-Index increased by 0.14 point, up to the 101.33 points level.

Market outlook
Continuing its uptrend in today session, VN-Index increased substantially, approaching 787 points. Market liquidity declined and market breadth turned to negative state, but VN-Index still went up thanks to large-caps. With regard to index points, VN-Index rose to the resistance level of 788 points. Market liquidity decreased slightly with the divergence in Banking sector which played the leading role in previous session. After 6 hot-increase trading sessions, VN-Index is facing the resistance level around 800 points, market is likely to go through short-term correction period in upcoming sessions due to selling pressure of stocks that have gained significant profit.