Vietcap Daily - VN-Index slides 0.98% on Wednesday

* Power sector: Robust power consumption continues, low CGM price due to high water inflows

* GMD: BOD approves implementation of 2024 rights issuance plan

* SCS: Upbeat H1 2024 preliminary results

* VHC: Sales accelerate to 22% YoY led by volume recovery in June 2024

* DRC: Solid earnings growth on stronger sales and gross margin expansion – Earnings Flash

* QTP: H1 2024 NPAT-MI flat YoY, slightly trails expectations - Earnings Flash

* Market wrap: VN-Index slides 0.98% on Wednesday

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Market wrap: VN-Index slides 0.98% on Wednesday

The VN-Index slid 0.98% (-12.5 pts) on Wednesday to close the trading day at 1,268.7. The only gaining sector was banks, while real estate had the most negative impact on the index. There were more than triple the number of laggards (369) as gainers (109), and 33 stocks were unchanged. Total trading volume jumped to USD1.2bn.

* The top-ten stocks positively affecting the index were all banks. These were TCB (+4.4%), MBB (+4.0%), BID (+1.8%), CTG (+1.5%), ACB (+1.7%), HDB (+1.8%), NAB (+5.9%), LPB (+1.3%), STB (+1.7%), and VIB (+1.4%).

* In real estate, several large-cap stocks plunged, including VIC (-1.6%), VHM (-1.95%), VRE (-1.7%), BCM (-1.6%), KDH (-3.7%), and NVL (-3.97%).

* Close behind real estate in terms of negative impact was the basic materials sector. Rubber producer GVR (-6.9%) and fertilizer companies DCM (-5.4%) and DPM (-5.0%) dropped significantly, while steel maker HPG (-0.9%) also declined.

* Other notable laggards throughout the index were food & beverage conglomerate MSN (-2.97%), beer maker SAB (-3.2%), technology company FPT (-1.6%), oil & gas company PLX (-4.5%), airline HVN (-6.9%), and utility company POW (-6.7%).