The VN-Index ended the trading session on August 7 with an 8-point (+0.51%) gain.
Vietnam’s stock market maintained its upward trajectory on August 7, with a strong buying momentum at the beginning of the session pushing the VN-Index closer to the 1,585-point mark. However, this level presented resistance, leading to a cautious shift in investor sentiment and a subsequent market dip into negative territory towards the end of the morning session and the beginning of the afternoon session.
Despite the brief sell-off, buying pressure persisted, and many stocks rebounded towards the end of the trading day. The VN-Index ultimately closed with an 8-point (+0.51%) gain, ending the day at 1,581 points. Trading value on the HOSE reached VND44,159 billion.
According to Dragon Capital Vietnam (VDSC), the market’s positive performance was driven by gains in various stock groups, with sectors such as banking, insurance, construction, and building materials exhibiting strong dynamics and providing support to the overall market. In contrast, shares of the Vingroup (VIC, VHM) witnessed declines, partially offsetting the upward momentum of the VN-Index.
VDSC analysts noted that the VN-Index is facing resistance at the 1,585-point level, indicating that the market still has upside potential but lacks convincing strength. This resistance level may continue to pose challenges in the trading session on August 8, and the tug-of-war between buyers and sellers in this zone will significantly influence the market’s near-term direction.
Meanwhile, VCBS observed a sectoral divergence in the market, with money flowing into stocks with unique stories or those that have not witnessed sharp increases recently.
VCBS recommended that investors hold onto stocks that are in a stable upward trend and have not faced strong selling pressure. Additionally, they advised selectively investing in stocks that successfully break through resistance levels for short-term gains.
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