The stock market continued its upward trend throughout Tuesday's session. During the morning, the VN-Index experienced slight fluctuations as selling pressure increased compared to the previous day, mainly due to stagnation in banking, securities, and steel stocks. However, strong support from the real estate sector provided positive momentum for the market.

The VN-Index closed above 1,445 points, accumulating more than 14 points compared to the previous day. This marks the 5th consecutive session the market has closed in the green. On the Ho Chi Minh Stock Exchange (HoSE), 185 stocks advanced, while 119 declined. Penny stocks (stocks of small companies, typically priced below 10,000 dong per unit) had a favorable trading session, with 9 stocks hitting their ceiling prices.

The VN30-Index, representing the 30 most reputable and largest capitalized companies on the market, showed a relatively similar trend to the VN-Index. The difference lay in the afternoon session. While the VN-Index remained relatively flat, the VN30-Index surged, driven by the real estate sector.

Overall, the VN30-Index gained over 26 points compared to the previous day, nearly double the overall market gain. This represents the highest growth rate in over a month. As a result, the index closed at 1,569.34 points, its highest level ever.

VN30-Index chart on 10/7. Photo: Tat Dat

The real estate sector played a key role in Tuesday's rally. Vingroup's VIC stood out, hitting its ceiling price of 101,600 dong per unit and leading the contributions to the VN-Index. Following closely were two other "Vin family" members, VHM and VRE, with gains of 5.1% and 6.2%, respectively.

However, profit-taking pressure was also evident, with several stocks like DIG, CII, KBC, KDH, HDG, and NLG declining, though not significantly. In the smaller capitalization group, gains still dominated the real estate sector.

During this 5th consecutive gaining session, market liquidity decreased by nearly 22%. Total trading value on HoSE fell to over 27,600 billion dong, the lowest of the week.

The market continued to receive support from foreign investors, who bought a net of approximately 1,074 billion dong. This is their 7th consecutive net buying session. However, during the first half of the morning, selling pressure from foreign investors was also relatively strong. Overall, they are accumulating SSI, VPB, and SHB, while selling HPG.

The market is entering a new uptrend and approaching new record highs. Many analysts believe the current developments have exceeded their forecasts and expectations.

VPBank Securities (VPBankS) suggests that with the relative strength index (RSI) currently trending towards the overbought zone, investors should avoid the fear of missing out (FOMO) and refrain from chasing hot stocks.

"The priority at this stage is risk management. Avoid chasing rising stocks and wait for corrections to restructure portfolios towards groups with solid price bases and haven't seen significant increases," the VPBankS analysis team recommends.

Tat Dat