July, 24 2024: VN-Index bounced back on bottom-fishing (VN-Index +0.54%)

• VN-Index started below the reference mark as negative sentiment persisted.
• Retail and Financial Services sectors finally caught up with the downtrend of the market. The two sectors declined the most and brought the market down for the first half of the morning.
• Meanwhile, other parts of the market, which has previously declined strongly, enjoyed bottom-fishing force and gradually recover. Chemicals sector was the most notable example.
• The recovery continued into the afternoon. Although unstable, the index was able to close in the green.
• Market breadth turned positive with 259 winners, 177 losers and 69 unchanged.
• Liquidity shot up at the end to VND 17.8 trillion, roughly the same as yesterday.

VN-30 also closed in green (VN-30 +0.14%)

• The basket recorded 18 increasing stocks, 9 decreasing stocks and 3 staying the same.
• GVR (+6.86%) hit ceiling price, with POW (+2.72%), SSB (+2.33%), PLX (+2.20%) followed behind.
• BVH (-2.41%), MWG (-1.76%), SSI (-2.81%) were notable decliners.

Sectors and stocks daily highlights

• CMX (+6.77%) touched ceiling price as VASEP predicted shrimp prices to recover starting 3Q2024.
• TNG (+3.40%) recorded positive result in 2Q2024 with VND 86.4 billion net profit, up 62% YoY and was the highest profit in the last 2 years.
• Foreign investors net bought VND 247 billion today. DGC (+1.48%) and MWG (-1.76%) were the most net sold stocks. For net bought stocks, they were VNM (-0.46%) and HPG (-0.36%).

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