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, with the breadth showing a dominant uptrend. This is a result of buying pressure accepting higher price levels. Blue-chips are leading the way in terms of both points and liquidity, accounting for over half of the market.
The trading dynamics continue to exhibit constant fluctuations, and this morning was no exception. At its peak, the VN-Index rose 4.8 points above the reference line, and at its lowest, it was still up by more than 1 point. Thus, the amplitude of oscillations was relatively narrow, and even at its weakest, the breadth showed 192 gainers and 136 losers, indicating a predominantly bullish tug-of-war.
This is a positive development compared to the previous sessions’ ups and downs, which included dips below the reference line. Currently, buying pressure is accepting higher prices, and selling pressure is not evident 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 exchange.
In terms of points, the blue-chip VN30 index is clearly leading the way. The VN30-Index ended the session up 0.41%, while Midcap and Smallcap 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 three stocks, MWG, which fell 1.53%, SSI, down 0.91%, and HDB, down 0.92%, all blue-chips with liquidity exceeding 100 billion VND in the VN30 basket rose in price. Additionally, nine of the ten stocks that contributed the most points to the VN-Index belonged to this basket.
However, in terms of amplitude, the VN30 group only contributed four stocks to the group that rose by more than 1%. These were ACB, up 1.96%, HPG, up 1.96%, VHM, up 1.56%, and MSN, up 1.33%. The HoSE still had 58 stocks that rose by more than 1%, mainly in the mid- and small-cap groups, but they had a minor impact on the index. Many stocks witnessed robust trading and strong buying interest, including DBC, up 1.88% with a matching volume of 221.6 billion VND; VTP, up 6.41% with a matching volume of 186.3 billion VND; KBC, up 1.99% with a matching volume of 121.4 billion VND; and HAH, up 1.45% with a matching volume of 113.3 billion VND. Stocks like QCG, SGR, CTR, BMC, SZC, DPG, and KSB had significantly lower liquidity but still saw their prices rise by over 2%.
At present, the amplitude of the VN-Index’s rise is not sufficient to trigger a highly enthusiastic state. In reality, the index does not necessarily reflect the entirety of stock transactions, but when the VN-Index surges, investors invariably feel more exhilarated. This morning, declines in VCB (-0.55%), BID (-0.1%), GAS (-0.28%), and VNM (-0.44%) significantly impeded the index’s performance. Additionally, CTG, TCB, and VPB, which are banking pillars, lacked robustness.
Nonetheless, due to a considerable reduction in selling pressure, especially as investors are reluctant to sell at lower prices, stock price resilience is favorable. Despite 134 stocks ending the session in the red, the majority exhibited very narrow oscillations, and only 39 stocks declined by more than 1%. Their liquidity accounted for less than 10% of the market, and most of it was concentrated in MWG, which matched 540.3 billion VND in transactions, resulting in a 1.53% price drop.
Foreign investors are also stepping up their investments, with total buying value on HoSE increasing by 60% compared to yesterday morning, reaching 751.8 billion VND. Selling value also rose by about 30% to 829.4 billion VND, resulting in a slight net sell-off of 77.6 billion VND. The largest selling transactions were in 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). Notable buying transactions included HPG (+111.7 billion VND), TCB (+82.3 billion VND), DBC (+42.8 billion VND), and VTP (+20.2 billion VND).
