The VN30 index maintained positive momentum throughout the trading session, widening its gains towards the close. This surge was driven by enthusiasm for leading stocks in the banking, technology, and steel sectors. The index rose 17 points, closing at 2,013 points, its highest level since late May.
In relative terms, the VN30 recorded its strongest session in half a month. 21 constituent stocks of the index closed above their reference prices, with BSR leading the gains at 5.4%. Conversely, 8 stocks in the basket declined. Four Vingroup-related stocks – VIC, VHM, VPL, and VRE – were among the top decliners, falling between 0.7% and 2%.
Cash flow into the large-cap sector helped the VN-Index extend its gaining streak for a second consecutive session. The benchmark index for the Ho Chi Minh City exchange closed at 1,867 points, 7 points above its reference level, and narrowed the gap to its historical peak to 60 points.
Sector-wise, oil and gas stocks showed the strongest performance. Besides BSR, constituent stocks like PVD, PLX, GAS, and PVT all closed with gains ranging from 0.8% to 2%.
Positive sentiment also spread across the securities sector. APG, a small-cap stock, hit its daily ceiling and saw no sellers at the closing price. Leading stocks such as VCI, SSI, VND, VIX, and TCX rose 1-3% above their reference levels.
Similarly, most banking stocks performed positively. After a correction phase, OCB regained its upward momentum and led the price gains with 3.6%. HDB, VPB, TCB, MBB, BID, CTG, and VCB followed, each gaining over 1% above their reference prices.
FPT recovered strongly, rising 4% to nearly 73,000 VND. This stock ranked seventh among those with the most positive impact on the index.
Liquidity on the Ho Chi Minh City exchange today was approximately 17,200 billion VND, with the large-cap basket contributing over 11,000 billion VND. Cash flow concentrated on FPT, accounting for nearly 840 billion VND, followed by five banking stocks: VPB, SHB, MBB, HDB, and TCB.
Beyond the rising index, the market also saw positive signals from foreign investors. Foreign investors disbursed approximately 1,600 billion VND today, while selling less than 1,300 billion VND. However, this is considered a short-term fluctuation, and the multi-month net selling trend is not expected to reverse yet. Global capital flows are currently reducing their allocation in emerging and frontier markets, such as Vietnam, to move towards safe-haven assets or developed markets.
Some securities companies maintain a cautious view on current market developments. According to ACBS's analysis team, while the short-term uptrend is maintained, the momentum is not strong enough to create a breakthrough beyond previous peaks. The index is predicted to face adjustment pressure at the 1,890-point resistance zone.
Phuong Dong
