November 13th Stock Market: Will Blue-Chip Stocks Continue to Lead the Market?

Market trends have been significantly influenced by the volatility of major stocks, a pattern that is likely to persist into the November 13th session.

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On January 12th, the VN-Index closed at 1,642 points, up 10 points (+0.63%) from the previous session.

The trading day on November 12th saw the VN-Index continue its upward trajectory from the opening bell, fueled by widespread gains in banking stocks (VCB +2.1%, BID +1.8%, CTG +2.3%) and retail sector leaders (MWG +3.2%, PNJ +2.7%). The index swiftly surpassed the 1,640-point mark within the first 30 minutes of trading.

Notably, the Vingroup conglomerate maintained its leadership position, with VIC (+4.1%), VHM (+2.9%), and VRE (+3.5%) all posting significant gains. Essential consumer goods stocks also played a crucial role, as VNM (+2.6%) and MSN (+1.9%) attracted substantial investment inflows.

In the afternoon session, profit-taking pressure on major banking stocks caused the VN-Index to retreat slightly to the 1,635-point level. However, bargain hunters quickly stepped in, driving the index back up to close at 1,642 points, a 10-point (+0.63%) increase.

According to the Vietnam Commercial Bank Securities Company (VCBS), the current uptrend is being supported by large-cap stocks. The VN-Index is expected to challenge the 1,650-point resistance level within the next 1-2 trading sessions, provided that banking and Vingroup stocks maintain their momentum.

The research team at the Securities Company highlights that retail and consumer stocks are in a breakout phase. Investors are advised to consider strategic purchases during pullbacks, focusing on stocks with improving liquidity.

However, MB Securities cautions about short-term risks stemming from profit-taking activities and exchange rate fluctuations. Investors should carefully manage their portfolio allocations and avoid excessive margin usage.

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