The stock market opened favorably with gains across the board. The VN30 index was largely supported by the banking sector. However, some leading real estate and securities stocks declined, combined with slowing liquidity on the HoSE, putting pressure on investor sentiment. In the latter half of the morning, the VN-Index showed signs of volatility.
Immediately after the lunch break, the index dipped into the red, following declines in real estate, steel, and chemical stocks. At one point, the market touched 1,502 points but quickly recovered. After a period of fluctuation, buyers gained the upper hand after 2 PM. Despite further volatility in the ATC session, the VN-Index rebounded in the final minutes to close above 1,521 points, a gain of nearly 9 points.
The day's trading saw mixed sentiment reflected in the market's swings. The number of advancing and declining stocks was relatively close, at 184 and 131 respectively.
The market was supported by MBB, VNM, HDB, and VIC. Meanwhile, HPG was the biggest drag on the index, followed by MSN, HVN, and MWG.
The market was buoyed by the oil and gas, banking, and real estate sectors. In oil and gas, BSR rose 4%, while PLX and PVD each gained around 2%.
Bank stocks led the rally throughout the session. HDB rose 4.2%, and MBB closed 3.6% higher. Most bank stocks saw gains, primarily around 1%.
The real estate sector was more mixed. VinGroup stocks moved in opposite directions, with VHM declining while VIC rose. DIG, DXG, CII, LDG, and HDC gained around 2%.
Despite the index gains, trading volume on the HoSE decreased by over 1,300 billion VND. However, total trading value remained high, reaching over 36,800 billion VND.
Foreign investors returned to net selling, offloading approximately 201 billion VND. They heavily sold HPG, MSN, VHM, and FPT. Conversely, foreign investors bought HDB, SSI, VNM, and SHB.
The market is currently about 7 points below its historical peak recorded in early 2022, based on the closing price, and 15 points below its all-time high. This has led analysts to predict market volatility or sideways movement before a clear breakout.
Since the beginning of the week, securities companies have advised investors to consider gradually reducing their holdings and closely monitor market movements. The proprietary trading desks of securities companies have also been net sellers in recent sessions, further impacting investor sentiment. For those looking to invest, stocks with a solid base, good liquidity, strong financials, and leadership in strategic sectors are considered optimal choices.
Tat Dat
