October 03 2024: VN-Index failed to go over 1300pt again (VN-Index -0.76%)

• VN-Index started higher above the reference level and tried to reach the strong resistance line at 1300 points.
• However, once the Index nearly touched the line after a steep rise, the market experienced a reactionally fall and finished the morning session around the reference level.
• The negative sentiment continued forcing down further even in the afternoon, and ended up with a decrease.
• Although the Bank sector was a notable driver amid the rising phase, the industry and the Real Estate sector weighed on the market in the end.
• Market breadth included 106 increasing, 289 decreasing, and 68 unchanged stocks.
• Liquidity substantially increased by 31.1%, reaching VND23.2 trillion.

VN-30 had a relatively better outcome (VN-30 -0.59%)

• The basket recorded 8 increasing stocks, 2 decreasing stocks, and 20 staying the same.
• Only VPB (+1.52%), and SSB (+1.42%) recorded increases with more than 1%.
• Declines were led by VHM (-4.15%), POW (-2.66%), and VRE (-2.61%).

Sectors and stocks daily highlights

• The Bank sector was positively influenced by the news that the government requested the State Bank of Vietnam (SBV) to develop new credit programs with appropriate preferential interest rates through cooperation with joint stock commercial banks.
• FMC (-0.53%) revealed business results in 9M2024. The company recorded USD 187 million in its net revenue for 9 months this year. As its sales target was set at USD 210 million, the company has achieved  89%  of the annual plan.
• Foreign investors net bought by VND 574 billion. While there was no notable net-sold stock today, FUEVFVND (-0.44%), STB (+0.60%), and VHM (-4.15%) were well-bought on the positive side.

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October,_03_2024__Daily_Recap_Report_EN