The VN-Index remained in positive territory throughout today. After the opening bell, the market experienced minor fluctuations before surging past 1,460 points. This short-term resistance level triggered selling pressure from investors taking profits, causing the index to drop more than 10 points in minutes. However, continued buying support, particularly in VinGroup stocks and Vietcombank, helped the market recover.
The HoSE index saw moderate fluctuations in the early afternoon. After 2 PM, trading volume increased, with buyers dominating blue-chip stocks. This pushed the index to nearly 1,464 points, about 18 points higher than the previous day's close.
A slight correction in the final minutes of trading saw the VN-Index close near 1,458 points, a gain of over 12 points. However, the market displayed a deceptive picture of growth, with 159 stocks advancing while 179 declined.
The VN-Index's gains were largely attributed to blue-chip stocks. VIC led the way, contributing over 5.7 points to the overall index. Vingroup's stock price rose 6.3% today, with buyers clearly in control. VCB, VHM, HPG, and FPT followed.
10 stocks on the HoSE hit their ceiling prices today. Except for VCI, which saw nearly 1,192 billion VND in trading volume, the rest were penny stocks with low trading activity.
By sector, real estate continued to lead in performance, followed by securities – a sector highly sensitive to market outlook – natural resources, and technology.
Trading volume on the HoSE rebounded to nearly 4,300 billion VND, with total trading value exceeding 31,900 billion VND.
Market sentiment was also bolstered by the eighth consecutive session of net buying by foreign investors. Foreign investors purchased a net of approximately 1,221 billion VND today, concentrating on SSI, HPG, and VHM.
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Investors monitor the market at a securities company's headquarters in Ho Chi Minh City. Photo: An Khuong |
Investors monitor the market at a securities company's headquarters in Ho Chi Minh City. Photo: An Khuong
It has been a while since investors witnessed a full week of market gains. The VN-Index rose nearly 71 points, or over 5%, last week, with trading volume consistently above one billion USD per session. The index is now back to its highest level since mid-4/2022. The VN30-Index set a new record above 1,594 points. These levels exceeded the forecasts of many analysts.
Beyond the numerical gains, last week's market was also notable for the sustained buying activity from informed investors, including foreign and institutional investors. Many securities companies believe this will be a positive catalyst for the VN-Index to maintain its upward trend.
However, from a technical perspective, some indicators suggest the market is approaching overbought territory. Profit-taking pressure therefore remains a risk that investors should carefully monitor next week.
Tat Dat
