6PM Call: The VNIndex is Quite Tricky - Update on DQC, RAL
The VNIndex almost broke out 850 pts as it gained more than 9 pts during the day. However, it slipped by the end of today’s session and only increased 4.83 pts. However, we believe such slip really reflected the “true VNIndex”. Indeed, market breadth was so narrow that the numbers of decliners doubled the numbers of gainers. ROS turned to be more powerful when other large-cap fell in late afternoon as it went higher and higher until reached the ceiling price. SAB and GAS were another two pillars that supported actively the VNIndex.
Large-cap stocks alternatively increased to push the VNIndex to higher ground. Investors cannot feel satisfied as they cannot make profit but the VNIndex keeps going to higher points. Only a few large-cap stocks made their gain. But even investors try to buy these stocks, they might not be able to improve their NAV because these stocks move up and move down very unexpectedly during this period.
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