Although the VN-Index only gained slightly by 3.24 points (+0.25%) by the end of this morning’s session, it remained above the reference line throughout, indicating a positive overall trend. This is a result of buying momentum pushing prices higher, with blue-chips leading the way in terms of both index points and liquidity, accounting for over half of the market.
The trading dynamics continue to exhibit frequent fluctuations, and this morning was no exception. At its peak, the VN-Index rose 4.8 points above the reference line, while at its lowest, it was still up by over 1 point. Thus, the range was relatively narrow, and even at its weakest, the market breadth showed a dominant bullish sentiment with 192 gainers and 136 losers.
This is a positive development compared to previous sessions, where dips below the reference line were observed. Currently, buying momentum is accepting higher prices, and selling pressure is not significant at lower price levels. By the end of the morning session, the VN-Index had 218 gainers and 134 losers, with the liquidity of the gaining group accounting for 67% of the total trading volume on the HoSE floor.
In terms of index points, the blue-chip VN30 group is clearly leading the charge. The VN30-Index ended the session with a 0.41% gain, while the Midcap and Smallcap indices rose 0.34% and 0.36%, respectively. Out of the blue-chip basket, 16 stocks advanced while 11 declined, and their matching orders accounted for approximately 55.7% of the total matching value on the HoSE. Excluding MWG, which fell 1.53%, SSI, down 0.91%, and HDB, down 0.92%, all other blue-chips with liquidity exceeding 100 billion VND in the VN30 basket posted gains. Furthermore, out of the top 10 stocks contributing the most to the VN-Index’s performance, 9 were from this elite group.
However, in terms of magnitude, the VN30 group only contributed 4 stocks to the group of 58 stocks that rose more than 1%. These gainers were primarily from the mid-cap and small-cap segments, but their impact on the index was limited. Several stocks witnessed robust trading and strong buying interest, including DBC, which climbed 1.88% with a matching volume of 221.6 billion VND; VTP, which surged 6.41% with 186.3 billion VND in matching volume; KBC, up 1.99% with 121.4 billion VND in volume; and HAH, rising 1.45% with 113.3 billion VND in volume. Other stocks, such as QCG, SGR, CTR, BMC, SZC, DPG, and KSB, had significantly lower liquidity but still managed gains of over 2%.
At present, the VN-Index’s upward movement has not been substantial enough to trigger a highly enthusiastic market sentiment. While the index may not fully capture the dynamics of individual stocks, a strong rise in the VN-Index typically boosts investor confidence. This morning, declines in heavyweight stocks like VCB (-0.55%), BID (-0.1%), GAS (-0.28%), and VNM (-0.44%) weighed down the index significantly. Additionally, CTG, TCB, and VPB, which are major bank stocks, lacked strength.
Nevertheless, the selling pressure has abated considerably, especially as investors are reluctant to offload holdings at lower prices. This dynamic bodes well for price stability. While the VN-Index ended the session with 134 stocks in the red, most of these movements were relatively minor. Only 39 stocks declined by more than 1%, and their combined liquidity accounted for less than 10% of the total market. The majority of the selling was concentrated in MWG, which saw matching volume of 540.3 billion VND, resulting in a 1.53% drop.
The total matching volume on the two exchanges this morning decreased by over 12% compared to yesterday morning, reaching 7,155 billion VND. HoSE witnessed an over 8% drop in trading volume, amounting to 6,745 billion VND. With market enthusiasm still subdued, buyers are content with prices hovering just above the reference line, and the decline in liquidity suggests that both sides remain cautious. Sellers, having experienced recent market fluctuations, are no longer eager to offload holdings at bargain prices, and buyers are also hesitant to push prices significantly higher.
Foreign investors, on the other hand, are stepping up their participation, with net buying on the HoSE rising by 60% compared to yesterday morning, reaching 751.8 billion VND. Their net selling also increased by approximately 30%, totaling 829.4 billion VND, resulting in a slight net sell-off of 77.6 billion VND. MWG (-123.7 billion VND), STB (-48.2 billion VND), HDB (-47.6 billion VND), SSI (-44 billion VND), VPB (-32.2 billion VND), CTG (-28.3 billion VND), and PVD (-23.6 billion VND) saw the largest net selling. On the buying side, notable purchases included HPG (+111.7 billion VND), TCB (+82.3 billion VND), DBC (+42.8 billion VND), and VTP (+20.2 billion VND).
