Vietcap Daily - VN-Index breaks declining streak with 1.4% gain

* MWG: 2024 AGM documents guide for maximum USD4mn for share buyback; cash dividend of VND500/share; ESOP maximum issuance rate of 2%
* PNJ’s 2M 2024 results: Flat NPAT YoY, retail sales grow 8% YoY, gold bar sales surge 49% YoY
* TNG: Orders picking up, outlook more positive - Visit Note
* Market wrap: VN-Index breaks declining streak with 1.4% gain

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Market wrap: VN-Index breaks declining streak with 1.4% gain

After four consecutive trading days of declining, the VN-Index gained 1.4% (+17.6 pts) on Wednesday to finish the trading day at 1,260.1. Banks had a strong positive impact on the market after have the opposite effect yesterday. Spanning the whole index, there were 339 gaining stocks, 139 laggards, and 70 that were unchanged. Total trading volume increased to USD924.3mn.

* Among banks, BID (+2.7%), TCB (+4.96%), CTG (+3.2%), MBB (+4.1%), and VPB (+2.8%) had the most market impact while VIB (+6.8%) saw the highest growth.

* Real estate had a mixed performance as VHM (-0.9%), VIC (-1.1%), and VRE (-1.5%) decreased and BCM (+0.9%), KBC (+1.5%), and DIG (+1.7%) increased.

* Food & beverage also experienced varied results. Milk producer VNM (+0.3%) and farming company DBC (+1.3%) gained and fruit planter HAG (+6.8%) surged. Conglomerate MSN (-0.1%) and fish exporter VHC (-0.7%) edged down. Beer maker SAB (0.0%) and consumer foods company KDC (0.0%) were unchanged.

* Other notable gainers were GAS (+1.6%), retailer MWG (+5.5%), technology company FPT (+2.2%), securities companies SSI (+2.9%) and VCI (+4.9%), and electrical equipment manufacturer GEX (+3.3%).