October 24, 2024:  VN-Index plunged as negativity grew stronger (VN-Index -1.06%)

• VN-Index started near the reference mark as cautious sentiment continued followed by low liquidity.
• The index struggled around this level for the first half of the morning with divergence across sector, but was supported by the Food & Beverage sector.
• However, as major sectors of Banking and Real Estate being mainly in the red, the market eventually fell down.
• Sell-side extended the gap the in afternoon as negativity spread wider. Market closed at day’s lowest.
• Market breadth was sell-side dominant with 102 winners, 284 losers, and 52 unchanged.
• Liquidity picked by 13.5% to VND 15.9 trillion from high selling activities at the end.

VN-30 deeply underperformed (VN-30 -1.49%)

• The basket recorded 6 increasing stocks, 22 decreasing stocks, and 2 staying the same.
• Large decliners were abundant such as STB (-6.70%), VHM (-6.70%), VRE (-2.68%), VIC (-2.66%), TPB (-3.40%).
• VNM (+1.63%) was the only notable gainer.

Sectors and stocks daily highlights

• EVG (-1.92%) was excluded from the list of developers for a new VND 2,400 billion residental project due to lack of experience.
• ACB (-1.57%) recorded somewhat pessimistic results in 3Q2024 with VND 4,844 billion profit before tax (-3.8% YoY). Notably, the bank’s bad debt balance has increased by nearly 50% YTD.
• Foreign investors net sold VND 235 billion today. HPG (0.00%) and VRE (-2.68%) were the most net sold stocks. On the other hand, VPB (-2.20%) topped the net bought list.

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