After 4 months of continuous increase led by the banking stock wave, investors have witnessed many stocks continuously breaking the record closing price. A total of 36 times the old record closing price has been broken since the beginning of 2024.
Compared to the whole year 2023 (31 times), the number of record-breaking prices of the banking group in less than the first 3 months of 2024 has been surpassed.
Of course, the strength of stock prices of banking stocks is not entirely equal, but compared to 2023, the number of stocks breaking the record is more than one. Specifically, out of 27 banking stocks trading on 3 exchanges, there are 5 contributing to the 36 record-breaking times. They are NAB (10 times), ACB (10 times), followed by BID (9 times), HDB (5 times), VCB (1 time), and MBB (1 time).
In 2023, there were 4 banking stocks that broke the record closing price, including VCB (15 times), followed by SSB (9 times), NAB (6 times), BID (1 time).
In total, NAB and VCB are the 2 stocks that have broken the record closing price the most times (16 times) in the period of 2023 and early 2024, but these 2 stocks also have quite different price movements.
Specifically, NAB has been on the uptrend since the end of 2022 and has increased by 131% in 2023, the highest increase of the banking stock group. Since the beginning of 2024, NAB has only increased by another 6.7%, but it’s enough for the stock to conquer new highs.
Chart of NAB stock price by month.
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Currently, NAB has stopped trading on UPCoM since February 28 and will officially trade on HOSE from March 8 with the reference price of VND 15,900 per share.
With VCB, the role of leading the market as well as the banking industry wave has been affirmed after the stock made efforts to rise in the late period of 2023. The first record-breaking trading session of VCB in 2024 occurred only in the past week after the information that the dividend will be paid in stock with a ratio of 38.79%/charter capital.
According to statistics, VCB is one of 2 banking stocks that have broken the record closing price the most times in the history of the stock market. In total, VCB has broken the record price 123 times since its listing on HOSE in June 2009.
Meanwhile, the stock with the highest number of record-breaking prices in the history of the stock market is MBB, although it was listed nearly 2 years after VCB.
Chart of MBB stock price by month
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Until now, MBB has a total of 146 times breaking the record closing price. Although in 2024, MBB has only been closed at a record price once, in 2017 and 2021, MBB has left a mark with 80 times.
According to the evaluation of Mr. Tran Truong Manh Hieu, Head of Analysis Department at KIS Securities Company Vietnam, after 4 months of continuous growth led by the banking group, some banking stocks have been rising too fast.
Therefore, there may be a correction in this group, and capital flows will have to seek other stock groups to circulate, and the breakthrough of some stock groups such as steel, seaport, and securities in the recent period is an initial signal for circulation.
