VN-Index increased the most in two months

VN-Index traded below reference in the first few minutes of the session, then reversed and continuously widened the increase margin thanks to cash flow focusing on pillar stocks. The index closed close to 1,858 points, 33 points higher than reference.

This development is contrary to the predictions of most securities companies. Before today’s session, most forecasts of securities units were inclined towards the scenario of VN-Index moving sideways and having difficulty surpassing the resistance threshold of 1,845 points when investor sentiment is cautious. Some analysis groups also predict that the market will shake strongly and fall back to the support mark of 1,800 points.

Stocks related to Vingroup dominated market movements, contributing a total of 33.5 points to the VN-Index. If this group is excluded, the index representing Ho Chi Minh City floor fluctuates around the reference. VIC and VHM closed at ceiling prices and had no sellers. Both recorded excess buying volume of more than one million shares.

Due to the significant influence of the Vingroup group, Ho Chi Minh City stock exchange closed in a state of “green shell, red heart”, meaning the index increased but the number of codes decreasing was overwhelming. The market had 180 codes closing below reference, of which 3 codes hit the floor.

Red covers the real estate industry, except for Vingroup. Shares of investors such as Quoc Cuong Gia Lai, Khang Dien, Nam Long, TTC Land, Hoang Quan… all lost more than 1.5%. The market recorded a few real estate stocks increasing, but most did not exceed 1%.

Other industry groups have strong differentiation. In banks, LPB, BID, VPB, CTG… were in the gaining group, while STB, ACB, OCB and VCB decreased by 0.5-1.5%. Similarly, stock, aviation, and steel stocks are also divided into two distinct groups.

Oil and gas is the only industry group that recorded a consensus increase following world oil price movements. POW, PVD, BSR all accumulated more than 1% compared to the reference.

The index fluctuated strongly, but market liquidity plummeted. The matched value decreased by 4,000 billion VND compared to the end of last week, down to 14,600 billion VND. VHM and VIC contributed more than 1,500 billion VND, sharing the top two positions in the liquidity rankings. Foreign investors extended the chain of selling goods for 5 consecutive sessions, mainly focusing on FPT, VIX and TCB.

According to the analysis team of MBS Securities Company, in the current context, investors should keep a high proportion of cash to be ready for disbursement when industry groups with good fundamentals such as securities, rubber, aviation, logistics, electricity production and distribution… discount to attractive price ranges.