The market witnessed a sudden surge of strong buying power this morning, causing stock prices to soar. The VN-Index closed the session with a remarkable gain of 20.42 points (+1.67%), and the number of advancing stocks was 5.7 times higher than that of declining stocks.
Finance and real estate stocks attracted significant buying interest, driving the liquidity of the two exchanges to the highest level in three months. The total matched orders on HoSE and HNX this morning reached VND11,871 billion, 2.6 times higher than yesterday’s morning session. HoSE alone saw a 155% increase, with a value of over VND10,957 billion. Seventeen stocks on this exchange had a liquidity of over VND200 billion each, mainly from the finance and real estate sectors.
DIG, with a turnover of VND595.9 billion and a 6.76% increase in price, is currently the most actively traded stock in the market. The share price is at a seven-month low after a 34% plunge from its May high. PDR, up 6.82%, traded VND321.3 billion, also hovering around a ten-month low. SSI and VIX from the securities group contributed VND389.6 billion and VND282.9 billion, respectively, with price increases of 3.72% and 4.02%. In the banking sector, MBB and VPB saw increases of 3.01% and 1.39%, respectively, with turnovers of VND308.9 billion and VND248.9 billion, both among the top ten most traded stocks in the market today.
The sudden influx of strong buying power inevitably led to rapid changes in stock prices. The VN-Index ended the morning session up 1.67%, with 145 stocks rising over 2%, equivalent to nearly 41% of the total traded stocks. When considering stocks with gains of over 1%, HoSE had 208 stocks, or over 58%. These statistics indicate a broad-based rally.
Moreover, the effectiveness of this substantial buying power is evident. For instance, stocks with gains of over 2% contributed 66.3% of HoSE’s total matched orders. With a 1% increase, liquidity concentrated on 86.3%. Simply put, almost all investors who bought this morning experienced price gains. Furthermore, most stocks are still on an upward trajectory, with morning closing prices holding steady at or near the session’s high. The VN-Index also ended near its intraday high at 1,243.98 points.
However, the market is not yet overly heated, as HoSE has only eight stocks that hit the ceiling price, including CTS, DXG, PDR, EVF, and NHA, which had good liquidity. Stocks that traded near the ceiling price included FTS, DIG, BSI, CCL, HDC, and AGR, all rising over 6%.
At the closing of the session, the VN-Index breadth was 368 gainers and 65 losers, indicating that some stocks moved against the market trend. However, these lagging stocks had negligible trading volumes. Notably, CSV decreased by 0.51% with a turnover of VND172.2 billion, KDC fell 0.37% with VND19.3 billion, SSB dropped 0.23% with VND26.8 billion, and VJC declined by 0.1% with VND31.8 billion. In fact, the total matched orders of all 65 losing stocks accounted for only 2.5% of the exchange’s value.
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Bank stocks sold off heavily
Today (2/2), the VN-Index continues to rise, but in a cautious trading atmosphere. It is noteworthy that most banking stocks in the VN30 basket are facing strong selling pressure.
