After an initial hesitant hour, the market suddenly received a strong buying momentum and accelerated. The VN-Index, which had risen by only about 0.3 points at 10 am, broke through, gaining 6.56 points (+0.51%) and closing at the highest price of the morning session at 1290.12 points. The HoSE matching liquidity increased by 20% compared to yesterday morning.
This increase was not really led by the large caps. Only 3 out of the top 10 stocks by market capitalization showed a significant increase: BID rose by 1.28%, VPB by 1.31%, and GVR by 4.38%, while the others remained weak. The VN30-Index also rose by only 0.1% and crossed the reference line in the last 15 minutes.
Although the VN30 basket had 21 gainers and 7 losers by the end of the morning session, the biggest gainers were not the large caps. POW, HDB, BCM, BVH, SAB, VRE, and MBB all rose by more than 1%, but they are not among the largest stocks by market capitalization. In contrast, FPT, the third-largest stock by market capitalization, fell by 2.44%. GAS, VIC, and MSN were also in the red. Most of the stocks in this basket took a long time to recover as most of them had declined previously. The VN-Index hit its low at 10 am but remained in positive territory, while the VN30-Index fell by 0.51% at its lowest point.
On the other hand, the recovery process has brought the best benefits to mid-cap and small-cap stocks. Looking at the VN-Index breadth, when the index was at its lowest, there were only 158 gainers and 210 losers. By the end of the HoSE morning session, there were 246 gainers and 168 losers. Up to 100 stocks on this exchange closed above the reference price by 1% or more, of which 15 stocks had a liquidity of more than VND 100 billion.
In addition to blue chips such as VPB, GVR, and HDB, there were also PC1, which rose by 5.58% with a liquidity of VND 269.5 billion; PNJ, which increased by 3.04% with VND 204.9 billion; GEX, which gained 2.19% with VND 189.7 billion; TCH, which rose by 1.76% with VND 162 billion; ANV, which climbed by 3.53% with VND 156.7 billion; and DCM, which advanced by 2.37% with VND 130.9 billion… The index representing the Midcap group rose by 0.5%, and the Smallcap group increased by 0.88%, both outperforming the VN30-Index.
The total matching liquidity of the two exchanges in the morning session increased by nearly 19%, with HoSE up by 20%. For the first time in 11 sessions, the morning liquidity exceeded the threshold of VND 10 trillion. On average, the morning sessions last week only matched VND 6,392 billion per session, equivalent to an increase of 71% compared to the average.
The strong inflow of money into the market is a positive signal as the short-term profit-taking pressure is gradually increasing. In the last 3 sessions, the market experienced volatile periods every day, and many stocks declined. This morning was no exception, as early profit-taking caused the market to plunge with the number of declining stocks dominating. However, the strong new buying momentum reversed the situation.
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