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Vietcap Daily - VN-Index inches up on banking sector gains - FPT, POW, ACB, BSR, NLG

Market Commentary

14 Nov 2023

* FPT's 10M 2023 results: 10M 2023 earnings growth sustained at close to 20% — BUY

* POW: 10M 2023 sales volume completes 75% of our full-year forecast; slight downside risks to our 2023F NPAT-MI forecast

* ACB: Low-risk strategy delivers strong earnings growth - Update

* BSR: 2024 NPAT to decline but still equivalent to 2017 cyclical peak - Update

* NLG: 2024F earnings and presales to rebound - Update

* Market wrap: VN-Index inches up on banking sector gains


Market wrap: VN-Index inches up on banking sector gains

Tuesday’s session of the VN-Index closed at 1,109.7, an increase of 9.7 points (0.9%). The index was kept above the reference point largely due to gains made by stocks in the banking sector. Total trading volume increased from the previous session to USD697.6mn.  

* VCB (+0.6%) rebounded after a three-day slide and strongly benefited the session. Fellow banks BID (+2.1%), VPB (+2.1%), and CTG (+1.4%) also contributed with robust gains.  

* Large-cap food & beverage firms VNM (+0.3%), MSN (+0.97%), and SAB (+1.1%) climbed. 

* VIC (+0.3%) edged up after falling for two sessions. Its subsidiaries had differing results, with VHM (-0.9%) down and VRE (+2.1%) up.  

* GAS (+0.1%) crawled up and HPG (-0.7%) slightly dipped. 

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