Today’s market momentum was primarily driven by the robust recovery of the banking sector, the largest capitalized group in the market. This resurgence occurred as VIC shares dipped, taking a breather after a heated rally.
Banking stocks took center stage, with multiple tickers surging and leading the market’s rebound. STB stood out with a 5.1% gain to VND 59,900 per share. Sacombank’s stock also joined the elite group of two tickers with trillion-dong trading volumes in an otherwise sluggish session. STB’s trading value exceeded VND 1,082 billion, ranking second on the exchange. Other major players like LPB, TPB, and TCB also rallied, further bolstering the index.
Market liquidity remained cautious, with HoSE trading volume just surpassing VND 21,300 billion.
While VIC had been the market’s driving force in recent sessions, today the banking sector took the helm. Vingroup stocks saw VIC and VHM retreat, though VRE managed a 3.3% gain.
Divergence was evident in the real estate sector. While some large-cap stocks corrected, smaller and mid-cap players like TCH, DXG, HHS, CII, GEX, CEO, NVL, and PDR advanced. The securities sector rebounded, with VIX climbing 2.5% and leading in liquidity absorption. SHS, SSI, and VND also closed in the green. Investors remained selective, favoring securities stocks ahead of the market upgrade announcement.
Positive movements were also observed in construction and steel sectors. HPG rose 0.5% to VND 28,300 per share, while NKG inched up 0.3%.
At the close, the VN-Index gained 3.35 points (0.2%) to 1,665.05. The HNX-Index added 0.06 points (0.02%) to 273.22, and the UPCoM-Index rose 0.33 points (0.3%) to 109.79.
Foreign investors continued net selling, with a total value of over VND 1,651 billion. Heavily sold stocks included VHM, FPT, MWG, STB, and VRE.
Seizing Market Volatility: Strategic Investment Opportunities on October 2nd
The market continues to oscillate in a state of indecision. However, these intraday fluctuations present strategic opportunities for investors to deploy capital effectively.
Afternoon Technical Analysis October 1st: Current Trend Showing Weakness
Amidst subdued ADX levels, the VN-Index is poised to persist in its sideways movement around the Bollinger Bands’ Middle line. Conversely, the HNX-Index is finding robust support at the lower boundary of its Triangle pattern, signaling potential stability in its trajectory.
Vietnam’s Stock Market: Scaling New Heights in a Historic Ascent
According to HSC Securities experts, while short-term weakening signals or the possibility of breaching the 1,600-point support level exist, they do not alter the positive long-term outlook for Vietnam’s stock market.
Foreign Block Continues Net Selling Streak with VND 1.8 Trillion in Early October: Which Stocks Were Hit Hardest?
Foreign investors’ trading activity has been a notable drawback, as they engaged in substantial net selling across all three major exchanges.
Surprise Powerhouse Deploys Nearly $300 Billion to Sweep Up Vietnamese Stocks in Month’s Opening Session
Proprietary trading desks at securities companies recorded a net buy of VND 285 billion on the Ho Chi Minh City Stock Exchange (HOSE).
