Prior to today's trading session, many analysts were confident the VN-Index would continue its strong upward trend due to investor enthusiasm. This proved accurate as the Ho Chi Minh City Stock Exchange index jumped to 1,523 points this morning, within 5 points of its record high.
From mid-morning, profit-taking at higher price levels increased, narrowing the trading range. The index shifted between gains and losses 4 times before closing at 1,512 points. Several securities firms observed that the profit-taking did not lead to funds leaving the market but rather rotated among different stock groups. This is a positive sign, suggesting the VN-Index could soon reach a new record high.
Nearly 1.5 billion shares were traded on the Ho Chi Minh City Stock Exchange, with a total value of 37,900 billion VND. Compared to yesterday's session, liquidity increased by over 4,000 billion VND, reaching its highest level in nearly 4 months.
The market favored buyers with 203 gaining stocks, including 15 that hit the ceiling price. The number of declining stocks was only about half the number of gainers. LDG was the only stock that hit the floor price, with over 39 million shares remaining unsold.
VPB contributed the most to today's session, gaining 3.8% to reach 23,350 VND. Compared to its April low of 15,000 VND, this stock has increased by 50%.
In addition to VPB, other bank stocks like HDB, VIB, and MSB also maintained positive momentum, increasing by 1-4%. On the Hanoi Stock Exchange, ABB of An Binh Bank surged 11% to 9,900 VND. Conversely, LPB, STB, and TCB faced strong selling pressure, causing their prices to reverse from gains to losses within the session.
Securities stocks continued their upward trend. VDS hit the ceiling price at 16,850 VND, while VIX also gained nearly 5% to 21,650 VND. Other leading stocks like VND, SSI, and HCM saw more modest increases, ranging from 0.2% to 2.4%.
The aviation sector continued to witness the surge of VJC, which hit the ceiling price for the second consecutive session, reaching 108,800 VND. HVN of Vietnam Airlines also gained 2.7% to 34,000 VND.
The most consistent gains were seen in the oil and gas and fertilizer sectors. Leading stocks like DPM, DGC, and GAS all increased by over 1.5% compared to their reference prices.
Vingroup stocks went against the market trend today, all declining sharply. VIC lost 2.1%, falling to 115,000 VND. VHM and VRE fell by 3.5% and 2.5%, respectively. These stocks were among those that had the most negative impact on the VN-Index.
After a period of heavy selling, foreign investors returned to net buying, with around 250 billion VND focused on two bank stocks: VPB and HDB. This group invested a total of 3,582 billion VND and sold 3,334 billion VND.
According to several securities firms, the market is establishing a price base around 1,500 points. The index is expected to reach 1,537 points in the coming sessions and then approach the new psychological milestone of 1,600 points. Investors are advised not to be overly enthusiastic and to prioritize allocating capital during market corrections, avoiding chasing the market when it is overheated.
Phuong Dong
