Vietcap Daily - Market strengthened, backed by various sectors

* Power sector: Government organizes conference to update on PDP VIII
* CTR: Mobifone wins auction to utilize 3800-3900 MHz frequency band for 5G roll out – in line with our expectation
* Steel: Anti-dumping tariff proposals on steel imports into Vietnam - Thought Piece
* PTB: Wood segment to lead earnings recovery in 2024 - Update
* Market wrap: Market strengthened, backed by various sectors

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Market wrap: Market strengthened, backed by various sectors

The VN-Index ticked up 0.79% to close the trading day at 1,293.7. This was the seventh consecutive trading day that the index has gained. Turnover was VND21,820bn (USD859mn), up 7% vs the previous day and 27% higher than the 5-day average. The market’s positive momentum was led by various sectors while Technology and Consumer Services created the most negative drag on the index.

* Banking turned around and was amongst the top five market leading sectors, led by VCB +1.0%, BID +1.1%, VPB +1.8% and HDB +3.5%. Meanwhile, LPB -0.9%, TCB -0.4% and OCB -1.0% were sector laggards.

* Basic Materials performed strongly thanks to gains from GVR (+4.1%), HPG (+0.7%) and VSC (+6.9%).

* Real Estate turned from sector laggard to market leader with gains from large cap stocks, including BCM (+3.3%), VIC (+1.0%), VHM (+0.8%), and VRE (+1.0%).

* Industrials stocks maintained positive momentum, including gains from REE (+4.5%), GEX (+3.9%), PC1 (+6.9%) and VCG (+5.1%).

* Technology and Consumer Services underperformed the market due to losses from FPT (-1.5%), HVN (-2.9%) and MWG (-0.3%).

* Oil & Gas also turned from leader to market laggard with a loss from PLX (-1.1%).