The market recovered after a large sell-off yesterday, despite a decrease in trading volume of about 45%. Bank stocks are also rebounding, but not the strong ones, trading only a third of the previous session. The mid-cap stock group is still playing a role in maintaining the index.
VCB is the only significant bank supporting the VN-Index, not because of a strong increase – the price only increased by 1.2% – but because of the largest market capitalization. The entire banking group on the exchanges only had 12 out of 27 stocks gain. Besides VCB, LPB increased by 2.55%, VBB increased by 1.94%, PGB increased by 1.52%, and VAB increased by 1.35% which is notable but the liquidity is also very limited.
GVR became the strongest stock in the VN30 group as well as the whole market this morning, jumping by the trading limit of 6.92%. This stock has the 15th largest market capitalization in the VN-Index. Money flow into this stock is very strong, with a trading volume in the morning session already surpassing the entire previous day, reaching 5.47 million shares and a value of 128.2 billion VND. Such a large increase pushed the GVR price above the peak in September last year and reached its highest level in 9 months. Currently, GVR still has buy orders at the limit of over 1.89 million shares.
FPT also had a significant change, ranking 3rd in the group of stocks driving the market this morning with a 3.13% increase. FPT is currently the most actively traded stock in the market with nearly 5.09 million shares equivalent to 500.6 billion VND in value. However, FPT does not have the same change as GVR, the price has just returned to the historical peak in September last year. Selling pressure on FPT is also curbing the price when the highest increase of this stock this morning is +3.87% compared to the reference price. FPT is currently ranked 10th in market capitalization in the VN-Index.
The VN30-Index closed the morning session with a 0.49% increase with 19 gainers and 9 decliners. Although the number of gaining stocks dominates, the points are not strong, meaning the majority of stocks have limited increases. However, the pulling force of this group is still the main motivation for the recovery of the VN-Index. Among the top 10 stocks driving the index, only LPB is not included in the VN30.
The positive performance of large-cap stocks in the index has created an opportunity for small and mid-cap stocks to have more active trading. The breadth of the HoSE market is very good with 258 gainers and 160 decliners. The mid-cap index increased by 0.7% and the small-cap index increased by 0.73%. The entire HoSE market has 95 stocks with an increase of over 1% while VN30 contributes only 7 stocks. Except for GVR, the stocks with the strongest increase are all mid-cap stocks with average liquidity: HHS hit the limit with 5.74 billion VND in trading volume; VSC increased by 4.88% with 77.9 billion VND; PAN increased by 4.26% with 44.1 billion VND; SZC increased by 4.23% with 62.2 billion VND; ELC increased by 3.95% with 19.9 billion VND; DPR increased by 3.34% with 17.1 billion VND; TCH increased by 3.03% with 125.5 billion VND… Among these stocks with an increase of over 1%, there are 7 stocks with a trading volume of over 100 billion VND, and 20 other stocks with trading volume ranging from 20 billion to 90 billion VND. In total, this group accounts for 43.6% of the total HoSE trading volume.
There are not many stocks that show significant downward pressure this morning. Investors seem to have stopped selling after yesterday’s session. HoSE currently only has 36 stocks decreasing by over 1%, with only 2 stocks trading at relatively high levels, ST8 decreased by 4.39% with 54 billion VND and VPB decreased by 1.03% with 59.6 billion VND, while the others only had trading volume of a few billion VND.
