- 2024-03-21T00:00:00
- Market Commentary
* Securities sector: New draft Circular part of efforts to upgrade market to emerging market status
* TCB: Moody’s maintains TCB’s ratings, revises outlook to stable
* PHR: Rubber land conversion progress to accelerate from 2024F - Update
* Market wrap: VN-Index gains 1.3%, led by banks
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Market wrap: VN-Index gains 1.3%, led by banks
The VN-Index gained 1.3% (+16.3 pts) on Thursday to close the trading day at 1,276.4. The market's upward momentum was primarily driven by the banking sector, with seven of the top-ten contributing stocks originating from this segment. In total, there were 379 gainers, 110 laggards, and 69 stocks that were unchanged. Total trading volume surged to USD1.2bn.
* Banks VCB (+2.2%), TCB (+6.6%), HDB (+5.8%), MBB (+2.5%), CTG (+1.6%), ACB (+1.8%), and VIB (+2.97%) were the leaders in the sector and seven of the top-ten contributors in the market.
* Real estate was the next best performing sector. VHM (+0.9%) edged up, VRE (+2.3%) had a strong gain, and PDR (+7.0%) and KBC (+4.9%) surged. VIC (0.0%) was unchanged.
* In basic materials, rubber producer GVR (+1.4%), steel maker HPG (+0.8%), steel manufacturer HSG (+1.6%), and fertilizer producer DCM (+1.2%) advanced.
* The only lagging sector was utilities, where NT2 (-1.8%), PGD (-2.6%), SBA (-3.4%), and TDM (-1.4%) lost value.
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