Profit-taking pressure remained present on the first trading day of the week, but it didn’t pose a significant challenge to the market. The slow upward trend, coupled with low liquidity and gradually improving breadth, reflected a cautious sentiment, yet there was capital inflow accepting higher prices.
The VN-Index stayed above the reference level throughout the morning session, with the lowest point only about one point above the reference. The breadth was positively skewed throughout, and the index closed with a gain of 5.56 points (+0.45%), with 243 gainers and 116 losers.
HoSE’s liquidity slightly decreased by 3% from the previous session, reaching 4,145 billion units, excluding matching transactions. At the index’s lowest point, the breadth was recorded at 166 gainers and 140 losers, with very few stocks declining by more than 1%. Only 76 stocks on the exchange experienced maximum declines of 1% or more, accounting for approximately 22.3% of the total traded stocks. By the end of the session, this number narrowed down to 35, with only two stocks, CMG and TCH, exhibiting acceptable liquidity: CMG fell 2.44% with a matching volume of 66.8 billion, and TCH decreased by 1.29% with a matching volume of 23 billion. The next best-performing stock in terms of liquidity was EVG, with only 2.8 billion units traded. This confirms that the group of steeply declining stocks was insignificant, and no strong selling pressure emerged.
The picture was much brighter on the advancing side, as out of the 243 gainers, 76 stocks rose by more than 1%, and this group attracted 41.1% of HoSE’s total matched volume. The best-performing stocks in terms of liquidity and price appreciation were POW, which hit the ceiling price with a 6.58% increase and a liquidity of 209.8 billion; MSN, up 1.69% with 193.4 billion; DHG, rising 2.83% with 175.3 billion; DXG, climbing 1.49% with 157.8 billion; and TCM, advancing 2.49% with 108.6 billion. A fairly long list of stocks with average liquidity also saw strong gains, including GEX, REE, HAH, PVD, GIL, and VSC.
Although the advancing group had a clear advantage over the declining group in terms of both amplitude and liquidity, most stocks, in terms of weight, experienced narrow gains and low liquidity. In reality, when the overall market liquidity is low, even if a few stocks stand out in terms of liquidity, they are still isolated cases. For example, only nine stocks on the HoSE exchange traded at volumes of 100 billion units or more this morning. The positive sign is that even with low liquidity, prices are rising, indicating limited selling pressure.
The blue-chip group also lacked notable transactions, especially considering their poor liquidity. The VN30 basket witnessed a 12% decline in liquidity from the previous session, reaching just over 1,768 billion units in matched orders. The VnN30-Index rose slightly by 0.4%, with 19 gainers and six losers. Among the top 10 stocks by market capitalization, VCB rose 1.21%, VHM climbed 1.32%, and GAS increased by 1.3%. On the other hand, BID, FPT, CTG, and TCB were in the red.
The highlight of today’s foreign block was the continued weakening of selling transactions. Total selling on the HoSE reached only 522.2 billion dong, a decrease of 21% from the previous morning session and the lowest level in 13 sessions. After a series of morning sessions with net sales of thousands of billions of dong, this decline is very positive. Buying power also remained weak, reaching 419.1 billion dong, resulting in a net sell-off of 103.1 billion dong. This is also the lowest figure in 20 sessions. The stocks that were net sold the most this morning were MWG (-39.6 billion dong), HPG (-32.3 billion dong), and DXG (-24.9 billion dong). On the net buying side, MSN (+46.7 billion dong) and TCM (+24.8 billion dong) stood out.
The market is witnessing a recovery streak with very low liquidity, raising doubts among investors. This upward trend resembles a technical rebound, making it challenging for investors to decide. Typically, low liquidity indicates that few people are willing to buy, and the sentiment of waiting for a market correction before investing prevails. This “increasing doubt” state is common during any bottom-forming process.
