The market had a positive outlook and experienced a fairly positive trading week. The VN-Index made a slight adjustment at the beginning of the week, followed by strong gains in the next three sessions, approaching the 1,300-point mark. However, the pressure intensified at this level, causing a minor dip in the final session. For the week ending September 27, the VN-Index rose 1.48% from the previous week to 1,290.92 points.
On the HOSE, SC5 topped the list of biggest gainers with a strong four-day rally, including three ceiling-hitting sessions. Currently, SC5 is trading at VND20,100 per share, representing a 23% increase in just one week.
Notably, the week’s focus was on bank stocks such as STB, MSB, and EIB. STB, the stock of Saigon Thuong Tin Commercial Joint Stock Bank, had a breakthrough week, surging over 9% in value. As a result, this bank stock witnessed four consecutive gaining sessions to reach VND33,600 per share, nearly touching its historical peak listed at the beginning of 2022.
In contrast, ITA, LM8, FDC, and AGM faced profit-taking pressure, all declining by over 8% this week. ITA, in particular, extended its losses after receiving a decision from HOSE last week regarding its transition from restricted trading to a trading halt starting September 26, 2024.
On the HNX, the gainers were mostly small-cap, low-liquidity stocks like VCM, PGN, VNT, and DNP. VCM stood out with five consecutive gaining sessions, although liquidity remained low, with a few thousand units traded in most sessions, and the highest session reaching just over 10,000 shares.
On the downside, GKM, PTD, and VE3 faced profit-taking pressure, declining by over 18-40% during the week.
On the UPCOM, the standout performer was HC1 of Hanoi Construction Corporation No. 1 JSC, which continued its ceiling-hitting streak for three sessions, pushing the share price to VND12,000. For the week, this stock recorded a nearly 70% gain. Despite the strong performance, the trading volume remained modest, ranging from a few hundred to a few thousand units.
Conversely, several stocks on UPCOM also recorded declines ranging from 19% to 40% during the week. Notably, HOT of Hoian Tourism and Service Joint Stock Company witnessed a dramatic drop of nearly 40%, with its share price falling to VND9,600, and liquidity remaining low at a few thousand units.
The Stock Market Nears All-Time Highs
In today’s trading session (September 26), the benchmark index inched closer to the 1,300-point threshold. However, this old peak continues to challenge the VN-Index, as the market once again falters with many large-cap stocks narrowing their gains.
The Elusive 1,300: VN-Index’s Unconquered Milestone
The VN-Index surpassed the 1,300 mark during the September 27 session, an impressive feat that unfortunately was short-lived. Within just a few minutes, the index had slipped back below this milestone figure. A tantalizing glimpse of what could be, leaving investors eager for more.
