Vietcap Daily - VN-Index dragged down 0.5% by banks - DGC, DPM, GEX, REE, GVR, VIB, HDC

* Vietnam’s GDP growth marks highest Q1 level in 5 years
* Energy Sector: Block B project completes another milestone
* DGC: Phosphorus demand bottoms out, positive developments from investment projects - AGM Note
* DPM: Q1 PBT ahead of forecast - AGM note
* GEX: Cash dividend to be paid in 2024, does not prioritize further stake in VGC - AGM note
* REE: Ambition for capacity expansion remains despite challenging outlook – AGM note
* GVR: Rubber sales to recover; large rubber land bank conversion - Update
* VIB: Retail lending & earnings growth to rebound in 2024F - Update
* HDC: Targeting to triple earnings from 2023's low base - Visit Note
* Market wrap: VN-Index dragged down 0.5% by banks

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Market wrap: VN-Index dragged down 0.5% by banks

On Friday, the VN-Index declined 0.5% (-6.1 pts) to close the week at 1,284.1. The worst performing sector was banks, which had a much stronger negative impact on the index than the other lagging sectors. The only gaining sectors during the trading day were utilities, consumer services, and health care. In total, the index had 159 gainers, 296 laggards, and 83 stocks that were unchanged. Total trading volume decreased to USD927.95mn.

* VCB (-0.8%), BID (-1.0%), TCB (-0.9%), and CTG (-0.6%) were the top laggards among banks. LPB (+3.8%), VIB (+1.4%), VPB (+0.5%), ACB (+0.5%) posted good performances.

* The next worst performing sector was real estate, with VHM (-1.0%), NVL (-2.3%), KBC (-1.7%), BCM (-0.6%) declining and SIP (+3.4%), VRE (+0.8%), TCH (+3.3%), and VIC (+0.1%) gaining.

* In consumer goods, food & beverage conglomerate MSN (-2.4%), beer brewer SAB (-0.9%), milk producer VNM (-0.1%), and fish exporter VHC (-1.1%) saw their share prices decrease. Jewelry retailer PNJ (+1.2%), rubber producer DRC (+3.1%), coffee maker VCF (+1.9%), and agriculture conglomerate HAG (+0.8%) increased.

* The top gaining sector was utilities, where water companies TDM (+4.2%) and BWE (+1.7%), as well as power companies VPD (+2.7%) and PGV (+0.2%) gained.