Although the VN-Index only slightly increased by 3.24 points (+0.25%) by the end of this morning’s session, it remained above the reference level for the entire period, with the breadth indicating a dominant uptrend. This is a result of buying pressure accepting higher price levels. Blue-chips are leading the way in terms of both points and liquidity, accounting for more than half of the market.
The trading dynamics continue to exhibit consistent oscillations, and this morning was no exception. At its peak, the VN-Index rose 4.8 points above the reference level, while at its lowest, it was up by just over 1 point. Thus, the amplitude of oscillations was relatively narrow, and even at its weakest, the breadth showed 192 gainers and 136 losers, indicating a predominantly bullish tug-of-war.
This development is quite positive when compared to the previous sessions’ fluctuations, which included dips below the reference level. Currently, buying pressure is accepting higher prices, and selling pressure is not significantly present at lower price levels. By the end of the morning session, the VN-Index had 218 gainers and 134 losers, with the liquidity of the gaining group accounting for 67% of the total trading volume on the exchange.
In terms of points, the blue-chip VN30 index is clearly leading the way. It closed the session with a 0.41% gain, while Midcap and Smallcap indices rose 0.34% and 0.36%, respectively. Out of the blue-chip basket, 16 stocks advanced, 11 declined, and the trading volume of these stocks accounted for approximately 55.7% of the total trading volume on the HoSE. Excluding three stocks, MWG, which fell 1.53%, SSI, down 0.91%, and HDB, down 0.92%, all blue-chip stocks with liquidity exceeding 100 billion VND in the VN30 basket posted gains. Additionally, out of the top 10 stocks contributing the most to the VN-Index, 9 were from this basket.
However, in terms of amplitude, the VN30 group contributed only four stocks to the group of gainers with increases of more than 1%. These were ACB, up 1.96%, HPG, up 1.96%, VHM, up 1.56%, and MSN, up 1.33%. The HoSE still had 58 stocks that rose more than 1%, mostly from the mid-cap and small-cap groups, but these stocks had a minor impact on the index. Several stocks witnessed robust trading and strong buying pressure, including DBC, up 1.88% with a trading volume of 221.6 billion VND; VTP, up 6.41% with a volume of 186.3 billion VND; KBC, up 1.99% with a volume of 121.4 billion VND; and HAH, up 1.45% with a volume of 113.3 billion VND. Stocks like QCG, SGR, CTR, BMC, SZC, DPG, and KSB had significantly lower liquidity but posted gains of over 2%.
At present, the amplitude of the VN-Index’s rise is not sufficient to trigger a highly enthusiastic state in the market. In reality, the index does not necessarily reflect the entirety of stock transactions, but when the VN-Index surges, investors invariably feel more exhilarated. This morning, declines in VCB (-0.55%), BID (-0.1%), GAS (-0.28%), and VNM (-0.44%) significantly hindered the index’s performance. Additionally, CTG, TCB, and VPB, which are banking pillars, lacked robustness.
Nevertheless, due to a considerable reduction in selling pressure, especially as investors are reluctant to sell at lower prices, stock price stability is achievable. Despite 134 stocks closing in the red, the majority exhibited extremely narrow oscillations, with only 39 stocks declining by more than 1%. The liquidity of this group accounted for less than 10% of the market, and most of it was concentrated in MWG, which traded at 540.3 billion VND, resulting in a 1.53% decline.
Foreign investors are also stepping up their investments, with total buying value on HoSE increasing by 60% compared to yesterday morning, reaching 751.8 billion VND. The selling value also increased by about 30% to 829.4 billion VND, resulting in a slight net sell-off of 77.6 billion VND. The largest selling transactions were in MWG (-123.7 billion VND), STB (-48.2 billion VND), HDB (-47.6 billion VND), SSI (-44 billion VND), VPB (-32.2 billion VND), CTG (-28.3 billion VND), and PVD (-23.6 billion VND). Notable buying transactions included HPG (+111.7 billion VND), TCB (+82.3 billion VND), DBC (+42.8 billion VND), and VTP (+20.2 billion VND).
