Vietcap Daily - VN-Index advances 0.8% due to banks rebounding - HPG, NT2, POW, VEA, AST, GEX, VIC
  • 2024-03-12T00:00:00
  • Market Commentary

* HPG's AGM documents: Conservative NPAT guidance

* POW/NT2: 2M 2024 sales volume and revenue in line with our forecasts, POW & EPTC agree on PPA for Nhon Trach 3&4

* VEA: Passenger car sales decline 25% YoY in 2M 2024

* Fixed Income February 2024: SBV injects liquidity via OMO after Tet

* AST: Business bouncing back, surpassing pre-COVID level - Update

* GEX: Lower earnings from VGC to weigh on profit recovery - Update

* VIC: Robust property segment, accelerated EV sales - Update

* Market wrap: VN-Index advances 0.8% due to banks rebounding

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Market wrap: VN-Index advances 0.8% due to banks rebounding

The VN-Index advanced 0.8% (+9.5 pts) on Tuesday to close the trading day at 1,245. After three consecutive trading days as the worst performing sector, banks led the market’s gain. Basic materials also strongly contributed, while financial services had a negative effect. Total trading volume declined to USD843.7mn. In total, there were 260 gainers, 200 laggards, and 95 stocks that were unchanged in the index.  

* Gaining stocks among banks included BID (+3.0%), TCB (+2.0%), CTG (+1.0%), VCB (+0.3%), STB (+0.2%), and OCB (+1.0%). HDB (-0.6%) and SHB (-0.9%) declined while VPB (0.0%), ACB (0.0%), and SSB (0.0%) were unchanged.  

* In basic materials, rubber producers GVR (+6.9%) and DPR (+6.9) surged as steel maker HPG (+1.0%) and chemical company DGC (+0.8%) also increased. Losses were seen in fertilizer producers DCM (-1.0%) and DPM (-1.3%), steel and plastic products producer HSG (-0.5%), and fumigation company VFG (-1.6%). 

* In real estate, gainers included VRE (+2.9%), SIP (+6.9%), and BCM (+1.2%), while VHM (+0.4%) saw a slight increase. Conversely, VIC (-0.5%), DXG (-1.4%), ITA (-1.6%), and KBC (-0.3%) experienced declines. 

* In the financial services sector, VIX (-3.1%), VND (-1.3%), EVF (-2.3%), and SSI (-0.1%) slid. VCI (+1.4%) and BSI (+1.7%) were the sector leaders while HCM (+0.9%) and FTS (+1.0%) also recorded modest gains.

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