Although the VN-Index only gained slightly by 3.24 points (+0.25%) in the morning session, it remained above the reference line for the entire time, indicating a positive trend. This is a result of buying pressure accepting higher price levels, with blue-chips leading the way in terms of both points and liquidity, accounting for more than half of the market.
The trading dynamics continue to exhibit frequent fluctuations, and the morning session was no exception. At its peak, the VN-Index rose 4.8 points above the reference, while at its lowest, it was still up by over 1 point. Thus, the range was relatively narrow, and even at its weakest, the breadth remained robust, with 192 stocks advancing and 136 declining, indicating a predominantly bullish tug-of-war.
This is a positive development compared to previous sessions, which witnessed dips below the reference line. Currently, buying pressure is evident at higher price levels, and selling pressure is not significant at red levels. The morning session concluded with 218 gainers and 134 losers on the VN-Index, and the liquidity of the advancing group accounted for 67% of the total trading volume on the HoSE floor.
In terms of points, the blue-chip VN30 index took the lead, ending the session 0.41% higher, while the Midcap and Smallcap indices rose 0.34% and 0.36%, respectively. Among the blue-chips, 16 stocks advanced, while 11 declined, and their trading volume accounted for approximately 55.7% of the total trading value on the HoSE. Excluding three stocks, 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 rose in price. Furthermore, nine of the ten stocks that contributed the most points to the VN-Index belonged to this group.
However, in terms of amplitude, the VN30 group contributed only four stocks to the group that rose by more than 1%: ACB, up 1.96%; HPG, up 1.96%; VHM, up 1.56%; and MSN, up 1.33%. The HoSE floor still had 58 stocks rising by more than 1%, mostly from the mid-cap and small-cap groups, but these stocks had a minor impact on the index. Several stocks witnessed robust trading and strong buying pressure, 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. Other stocks, such as QCG, SGR, CTR, BMC, SZC, DPG, and KSB, had significantly lower liquidity but still managed to post gains of over 2%.
At present, the amplitude of the VN-Index’s rise is not sufficient to trigger a highly enthusiastic state in the market. While the index may not fully reflect the trading dynamics of individual stocks, a strong upward movement in the VN-Index typically boosts investor confidence. This morning, declines in VCB (-0.55%), BID (-0.1%), GAS (-0.28%), and VNM (-0.44%) significantly weighed down the index. Additionally, CTG, TCB, and VPB, which are banking pillars, lacked momentum.
Nevertheless, the selling pressure has diminished considerably, especially as investors are reluctant to sell at red levels, making it easier for stocks to hold their ground. 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 trading volume accounted for less than 10% of the market. The majority of the selling pressure was concentrated in MWG, which traded 540.3 billion VND in value and fell by 1.53%.
Foreign investors are also stepping up their participation, with net buying on the HoSE increasing by 60% compared to yesterday morning, reaching 751.8 billion VND. Selling pressure also increased by approximately 30%, totaling 829.4 billion VND, resulting in a slight net sell-off of 77.6 billion VND. The most considerable net selling was observed 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 net buying was seen in HPG (+111.7 billion VND), TCB (+82.3 billion VND), DBC (+42.8 billion VND), and VTP (+20.2 billion VND).
