Stock Market Update November 6: VN-Index Expected to Fluctuate with Mixed Trends

VCBS Securities forecasts significant volatility in the VN-Index during the November 6th session, driven by cautious investor sentiment.

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By the close of the session on November 5th, the VN-Index settled at 1,654 points, climbing nearly 3 points (or 0.18%).

The morning session on November 5th opened with investors still reeling from the previous day’s significant volatility. Despite this, the VN-Index swiftly stabilized, fluctuating within a +/-10-point range.

Although red dominated the market, efforts from large-cap stocks helped the benchmark index maintain the 1,650-point level. Notably, VIC (Vingroup) rose 1.2%, CTG (VietinBank) gained 0.8%, BID (BIDV) added 0.6%, and GAS (PetroVietnam Gas) held steady at high levels, serving as crucial pillars of support.

In the afternoon session, the VN-Index hovered around the reference point with significantly narrowed volatility, indicating a gradual balance between supply and demand. The banking sector remained a highlight, with CTG and BID sustaining their upward momentum, alongside Oil & Gas stocks (PLX, BSR, GAS) and VIC.

Remarkably, mid-cap stocks surged, with DCM (Dam Ca Mau) up 3.5%, DPM (Dam Phu My) rising 4.1%, CSV (Binh Dien Fertilizer) gaining 3.2%, and PVD (PV Drilling) briefly hitting its ceiling before cooling to a 5.8% increase. These movements helped prevent the VN-Index from plunging further.

However, foreign investors continued to exert pressure, net-selling VND 806 billion, primarily in TCB (Techcombank), VRE (Vincom Retail), and GEX (Gelex Group). This somewhat restrained the market’s recovery, though selling pressure wasn’t as intense as in previous sessions.

At the close, the VN-Index ended at 1,654 points, up nearly 3 points (or 0.18%).

According to VCBS Securities, proactive buying sentiment remains cautious. The VN-Index is signaling a search for equilibrium around the 1,640-1,660 range, characterized by low liquidity and pronounced sectoral divergence.

VCBS advises investors to leverage the rebound to restructure portfolios, prioritizing the removal of underperforming stocks facing heavy selling pressure. Simultaneously, opportunities should be sought in stocks confirming successful bottom formations or maintaining upward trends with new price bases and increased proactive buying liquidity.

However, other securities firms caution investors to consider short-term exploratory investments, strictly avoiding chasing stocks at high prices to mitigate risks.

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