The VN-Index surged more than 1% this morning, with a dominant increase in price breadth. Surprisingly, the VN30 blue-chip group saw a 10% decrease in liquidity, while the HoSE floor increased by 17%. Money is flowing into mid-cap stocks, pushing prices up fiercely.
The Midcap index closed the morning session up 1.74%, Smallcap up 1.24%, VN30-Index up 0.89%, and VN-Index up 1.04%. Moreover, the liquidity of the Midcap group accounted for approximately 53% of the total trading volume on HoSE, while VN30 accounted for only 28.5%.
On the HoSE floor this morning, out of the 38 stocks with a trading volume of over VND 100 billion, the Midcap group contributed 22 stocks. Among these 22 stocks, only EIB decreased by 0.83% and EVF remained unchanged, while the rest increased. DGC, CTD, and VGC were the three stocks that hit the ceiling, with trading volumes ranging from VND 200 billion to 400 billion.
HoSE also recorded 12 stocks hitting the ceiling, with VN30 not contributing any of them. In addition to DGC, CTD, and VGC, there are many other mid-cap stocks (although not classified into the Midcap group) such as TV2, GIL, VDS, VTP… with very high liquidity. Not only contributing to liquidity, mid-cap stocks also had impressive price increases: The entire HoSE floor had 76 stocks increasing by more than 2%, and the Midcap group had 25 stocks. VHC, NLG, BSI, DPM, TLG, CMG, DGW, DCM, HDG were the stocks that had strong increases.
However, the market capitalization factor is still a limitation of mid-cap stocks, and the leading group this morning is still mainly VN30. Out of the top 10 stocks, Midcap only contributed DGC and VGC, while the remaining stocks, VCB increased by 1.69%, FPT increased by 2.86%, GVR increased by 2.37%, HPG increased by 1.16%, and MSN increased by 1.52%, were the pillar stocks of the index.
The VN-Index has been continuously increasing in the morning session and closed the session at a peak of 1,258.01 points, equivalent to an increase of 13.01 points compared to the reference. This is the second strong consecutive session, helping the index return to the peak level in September 2023. The market has been highly excited throughout the time, with breadth showing complete dominance on the upside. At the end of the morning session, the HoSE floor recorded 314 stocks increasing/128 stocks decreasing, of which 132 stocks increased by more than 1%.
The trading volume on the HoSE floor in the morning session reached over VND 11,492 billion, an increase of 17% compared to the morning of the previous day. Overall, including HNX, the total trading value reached VND 12,477 billion, an increase of 17.3%. The increase in liquidity shows that there is a good optimistic cash flow, especially when the price increase amplitude is much stronger than yesterday. With two consecutive increases, bottom fishing investors who have stocks returned this afternoon with good profits.
Currently, the largest pillar group of the VN-Index is still not in agreement, with BID, GAS, VIC, VPB, and VNM having weak increases, VHM decreasing by 0.35%, and CTG staying unchanged. VCB is currently leading in terms of point gains, but does not represent the banking group due to the remaining stocks having weak increases. SHB increased by 1.33%, and VIB increased by 1.17% are the only notable remaining stocks. If the pillar group increases more evenly, the VN-Index will reach a very strong amplitude and return to the lost peak.
