- 2024-02-07T00:00:00
- Market Commentary
* HDB to issue 20mn primary shares for ESOP
* Macro Update: Encouraging data seen at start of new year
* Urea Sector Update: Marginally lower urea price outlook in 2024
* BSR: Market stays tight but valuation looks full - Update
* PLX: Volume recovery to support 2024F earnings - Update
* Market wrap: VN-Index gains 0.9% as Lunar New Year approaches
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Market wrap: VN-Index gains 0.9% as Lunar New Year approaches
The VN-Index gained 0.9% (+10.1 pts) on Wednesday to close at 1,198.5. This was the last trading day before the Lunar New Year, and it ended on a positive note as the index has risen for three consecutive sessions. The day’s gains were primarily led by the banking sector. 27 members of the VN30 basket saw their share prices increase while only one declined and two were unchanged. Total trading volume rose to USD634.6mn.
* Seven of the ten most positively contributing stocks to the market were from the banking sector. In order from most contributing to least among banks, these were CTG (+3.2%), TCB (+4.6%), VCB (+0.6%), VPB (+1.6%), MBB (+1.95%), HDB (+2.4%), and TPB (+2.2%). CTG has gained over 11% in the last three trading days.
* The real estate sector also posted a strong performance as VHM (+1.95%) was the third most positively influential stock on the day and VIC (+0.2%), VRE (+0.9%), and BCM (+0.3%) also advanced.
* Some other prominent stocks that posted gains were technology firm FPT (+0.8%), beer maker SAB (+0.9%), steel maker HPG (+0.4%), rubber producer GVR (+0.6%), fertilizer producer DCM (+3.0%), and securities firm VND (+4.1%).
* Several stocks were unchanged in the market including GAS (0.0%), milk producer VNM (0.0%), electricity company POW (0.0%), and construction & materials company VGC (0.0%).
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