6PM Call: Market: Banking stocks under the radar
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Market saw low demand in previous five advancing sessions while high selling pressure appeared in current two downward sessions. The average liquidity of these two down sessions was 13% higher than that of the five previous up sessions. Market breadth has also become much narrower compared to the first declined session in last Friday, when gainers was twice as many as decliners. Today, decliners outweighed gainers at 2:1 ratio. Despite having so many decliners, VNIndex only decreased slightly by 1.83 pts thanks to drag of VCB (up 1.1%) and STB (up 6.2%). The market has thus shown its sight of serious correction in next sessions, only to be saved by banking stocks once again. Therefore, investors should stay cautious in upcoming sessions and avoid trading solely based on movements of VNIndex. For traders, increasing money portion in their portfolio seems an appropriate strategy.
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