Vietcap Daily - VN-Index gained on low volume - HDG
  • 2024-07-01T00:00:00
  • Market Commentary

* Stronger than expected Q2 GDP growth
* Growth in new orders hit the highest level since March 2011
* Energy Sector: Delay to expected timing for Block B to officially break ground
* National Assembly approved three amended real estate laws to be effective earlier.
* HDG: Larger power portfolio to offset lower real estate earnings - Update
* Market wrap: VN-Index gained on low volume


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Market wrap: VN-Index gained on low volume

Market sentiment remained cautious in the morning session despite positive macro-economic data for H1 2024, resulting in modest turnover on the HOSE of VND13,115 billion (USD514mn). However, the VN-Index closed with a 0.74% gain due to a late rally.  

* The banking sector was the largest contributor to the gain in the VN-Index, led by rallies from CTG +3.2%, VCB +1.1%, BID +1.5% and VPB +1.9%.  

* Consumer stocks performed well, including MWG +5.4%, HVN +3.9%, MSN +1.7% and SAB +1.5%.  

* VRE closed limit up to lead the gain in real estate sector. Related companies VIC +0.4% and VHM +0.1% also witnessed small gains.

* Most brokerage stocks rallied, including VCI +2.3%, VDS +6.1% and HCM +1.5% on the first listing day of DNSE Securities Joint Stock Company (ticker: DSE -4.7%) on the HOSE with a market cap of nearly VND9,200 billion (USD360mn).  

* The technology sector underperformed the VN-Index due to a decline in FPT -1.5% on strong net selling value of VND249 billion (USD11mn) from foreign investors.

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