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, and the breadth showed 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 more than half of the market.
The trading dynamics continue to exhibit consistent oscillations, and this morning was no exception. At its peak, the VN-Index rose 4.8 points above the reference, and at its lowest, it was still up by over 1 point. Hence, the amplitude of oscillations was relatively narrow, and the breadth, at its weakest, displayed 192 gainers and 136 losers, indicating a predominantly tug-of-war state on the green zone.
This development is quite positive considering the previous sessions’ fluctuations, which included dips below the reference line. Currently, buying pressure is accepting higher prices, and selling pressure is not significantly present at red levels. The VN-Index closed the morning session with 218 gainers and 134 losers, and the liquidity of the gaining group accounted for 67% of the total trading volume on the exchange.
In terms of points, the blue-chip VN30 group 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. The blue-chip basket featured 16 gainers and 11 losers, and their matched orders accounted for approximately 55.7% of the total matched order value on the HoSE. Excluding three codes—MWG, down 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 value. Furthermore, of the top 10 stocks contributing the most points to the VN-Index, nine were from this basket.
However, in terms of amplitude, the VN30 group only contributed four stocks to the group of stocks rising over 1%: ACB, up 1.96%; HPG, up 1.96%; VHM, up 1.56%; and MSN, up 1.33%. The HoSE still had 58 stocks rising over 1%, mostly from the mid- and small-cap groups, but these codes had a minimal impact on the index. Several stocks witnessed robust trading and strong buying pressure: DBC, up 1.88% with a matched volume of 221.6 billion VND; VTP, up 6.41% with 186.3 billion VND; KBC, up 1.99% with 121.4 billion VND; and HAH, up 1.45% with 113.3 billion VND. Codes like QCG, SGR, CTR, BMC, SZC, DPG, and KSB had significantly lower liquidity but still posted gains of over 2%.
At present, the amplitude of the VN-Index’s rise is not sufficient to stimulate a highly euphoric 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, VCB, down 0.55%; BID, down 0.1%; GAS, down 0.28%; and VNM, down 0.44%, posed significant impediments to the index’s performance. CTG, TCB, and VPB, which are banking pillars, also lacked robustness.
Nevertheless, due to a substantial diminution in selling pressure, especially as investors are reluctant to sell at red levels, stock price sustenance is facilitated. While the VN-Index breadth at the session’s close still exhibited 134 losers, the majority of these stocks underwent very narrow oscillations, and only 39 stocks declined by over 1%. The liquidity of this group accounted for less than 10% of the market, and most of it was concentrated in MWG, which matched 540.3 billion VND in orders, resulting in a 1.53% price decline.
Foreign investors are also stepping up their investments, with total buying value on the HoSE increasing by 60% compared to yesterday morning, reaching 751.8 billion VND. Selling value also rose by about 30%, totaling 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).
