Vietcap Daily - Foreign selling activity surged

* Market wrap: Foreign selling activity surged

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Market wrap: Foreign selling activity surged

Market sentiment remained cautious with low turnover in the morning session. However, turnover surged in the afternoon session and the VN-Index increased slightly to post a gain of 0.04% and close at 1,283.6. Turnover was recorded at VND19,889bn (USD783mn), a weekly high. Selling by foreign investors increased strongly to a net sales value of VND2,270bn (USD89.3mn), the highest figure since Nov 2022, with sales focused on HDB 0%, FPT +0.6%, STB +0.2% and SAB -2.8%.

* The Materials sector was the largest contributor to the gain in the VN-Index, led by rallies from GVR +4.0%, DCM +6.9%, HPG +0.5% and DGC +1.8%.

* Oil & Gas continued to make a positive contribution to the index’s performance thanks to gains from PLX +5.8% and PVD +1.3%.

* Industrials stocks performed well, including REE +2.0%, HT1 +4.7%, VGC +1.0% and PVT +2.0%.

* Technology and Consumer Services maintained positive momentum, including gains from FPT +0.6%, MWG +2.1% and FRT +1.7%.

* Financial Services traded mixed with gains from TVS +7.0%, VDS +2.0% and ORS +1.9% and declines from VND -1.5% and SSI -0.3%.

* Banks and Real Estate were market laggards due to losses from VCB -0.9%, BID -0.6%, VPB -0.5%, VIC -2.4%, VHM -1.2%, VRE -2.4% and KDH -2.9%.