October 15 2024: VN-Index declined gradually (VN-Index -0.41%)

• Recovering from yesterday’s decrease, VN-Index started higher today.
• The index continued to rise for an hour after that, but turned downwards as it approached 1,300 pt.
• As the afternoon session began, the declines became more and more widespread, with the index eventually falling below the reference mark.
• Sectoral gains were seen only in the Retail, Basic Resources, and Banks. The largest decline was in the Oil & Gas sector.
• Market breadth included 105 increasing, 280 decreasing, and 51 unchanged stocks.
• Liquidity decreased by 9.1% to VND 16.6 trillion.

VN-30 weighed down by PLX decline (VN-30 -0.20%)

• The basket had 8 increasing, 18 decreasing, and 4 staying the same.
• The decline in PLX (-3.60%) was particularly significant.
• It was supported by gains in MWG (+1.26%) and BID (+1.21%).

Sectors and stocks daily highlights

• OPEC cut its forecast for global oil demand growth in 2024 from 2.03 million bpd to 1.93 million bpd and for 2025 from 1.74 million bpd to 1.64 million bpd. The Oil & Gas sector (-3.23%), led by PLX (-3.60%), decreased due to concerns about falling oil demand.
• POW (-1.56%) announced the status of its operations for 9M2024. Total power generation was estimated at 11.42 billion kWh (+2% YoY) and consolidated total revenues increased slightly to VND22,374 billion (+1% YoY).
• Foreign investors net sold VND574 billion, led by KDC (-0.20%) and FPT (-0.44%). On the other hand, MSN (+0.62%) was particularly net bought.

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