The VN-Index closed above 1,704 points, accumulating more than 27 points compared to yesterday's session. This positive performance allowed the market to regain the crucial 1,700-point psychological level. The "Vin group" duo, comprising VIC and VHM, were the primary drivers behind this surge, contributing over 16 points to the overall index. Vingroup shares rose 4,1% with liquidity exceeding 1,900 billion dong, making it the second most traded stock on the entire market, while Vinhomes shares hit their daily upper limit with liquidity surpassing 531 billion dong.

Throughout the day, the stock market traded above its reference price. After the first hour, the VN-Index had climbed by more than 10 points and stayed above the 1,690-point level for the morning. Initially, market breadth was balanced, with similar numbers of advancing and declining stocks, but declining stocks gained dominance near the lunch break. In the afternoon, the market continued to show a "green outside, red inside" pattern (meaning the index was up but most stocks were down). At one point, declining stocks outnumbered advancers by more than two to one.

A strong rebound began after 2 PM, with the index rising almost 29 points above its reference level, returning to 1,700 points. However, upon entering the closing auction (ATC) session, the general index suddenly plummeted to 1,680 points, only to quickly recover in a V-shape. By the end of the session, the market breadth improved, with 162 advancing stocks against 154 declining ones.

Beyond VIC and VHM, VPL of Vinpearl, another stock within the "Vin group", was the third largest contributor. This stock reached its daily upper limit during the session, eventually closing up 5,6%.

During the index's recovery session, liquidity also increased by over 5,500 billion dong, bringing the total trading value on the HoSE (Ho Chi Minh Stock Exchange) to over 24,100 billion dong. Despite this increase, it marked the 8th consecutive session with liquidity remaining below one billion USD.

Foreign investors returned to net buying approximately 502 billion dong, following yesterday's net selling. The most accumulated stocks were HPG (over 344 billion dong) and SSI (over 307 billion dong), alongside BSR, VIX, and MSN. Conversely, foreign investors were significant net sellers of DGC (nearly 635 billion dong) and VIC (over 620 billion dong).

Stock trading at Rong Viet Securities Joint Stock Company (District 1, Ho Chi Minh City) in 10/2024. *Photo: An Khuong*

Overall for the week, the VN-Index accumulated an additional 57 points, equivalent to almost 3,5%. This recovery primarily stemmed from the bluechip group. However, liquidity has not genuinely improved, signaling cautiousness.

In its pre-trading bulletin, VPBank Securities (VPX) suggested that the recent index recovery amid low liquidity indicates continued cautiousness in supply and demand, and investors are not yet ready to increase their risk exposure. The analysis team recommended prioritizing quick T+ profit-taking, aiming for short-term gains of 5-7%, and not expecting prolonged rallies until the index surpasses strong resistance levels. For those looking to disburse capital, investors should prioritize buying during corrections and avoid chasing prices when the index has not convincingly broken through resistance.

Tat Dat