The stock market entered the morning session of May 27 in a state of tug-of-war as VN-Index continued to fluctuate around the 1,880-1,890 point range with liquidity maintained below the 20-session average.
Investors' hesitation caused the main indices in the market to continuously adjust. Along with that is pressure from the large-cap group, especially the Vingroup stock group, causing the index to lack breakthrough momentum, although cash flow showed signs of improvement in the banking group and some midcap stocks.
Closing the morning session on May 27, VN-Index decreased by 15.75 points (-0.84%) to 1,868.43 points with 132 gainers and 141 losers. Total trading volume reached 317.7 million units, value 8,864.7 billion VND, a slight decrease of 4.5% in volume, but an increase of 8.5% in value compared to yesterday morning's session.
Foreign investors continued to net sell with a value of 549.39 billion VND on all three exchanges. Selling pressure mainly focused on VHM with a value of 138.76 billion VND. Meanwhile, leading the top of net buying was MSB with a value of 62.25 billion VND.
The main pressure that caused VN-Index to decrease this morning came from the Vingroup group when all 4 codes decreased with the strongest decrease in the VN30 basket. In which, VPL decreased by 3.24% to 92,600 VND, VHM decreased by 3.19% to 148,900 VND, VRE decreased by 2.91% to 31,750 VND and VIC decreased by 2.86% to 206,900 VND.
In which, VPL has only more than 0.3 million units of liquidity, the rest VIC more than 1.5 million units, VRE more than 2.5 million units and VHM nearly 3.5 million units. This group alone took away nearly 16 points from VN-Index. While the 10 codes with the best contribution to VN-Index this morning with a total score of less than 3 points.
Some securities companies believe that the market is entering a stage of accumulation and struggling, with a trend that is not really clear.
Beta Securities Company believes that the 1,840-1,850 zone will play a supporting role for the VN-Index. In the current context, the fact that foreign investors still maintain strong net selling along with market liquidity maintained at a low level and the general index may be greatly affected by the pillar stock group makes it likely that cash flow will continue to be cautious in trading.
Investors should consider limiting emotional trading, chasing after stocks showing signs of hot increase, limiting unpredictable adjustment risks. However, for long-term investors, they can still take advantage of opportunities when the market fluctuates and adjusts to accumulate stocks of businesses with clear growth prospects and benefit from the current macroeconomic policy context.
Meanwhile, according to the viewpoint of Tien Phong Securities Company (TPS), in terms of movement structure, the main upward trend of the index is still preserved with previously established support levels. However, the resistance zone of 1. 925 points, corresponding to the old peak, is still an important psychological barrier; successfully conquering this point will open up new growth room, while the sideways movement extending below this resistance level may weaken the market's price increase momentum.
In the immediate future, TPS expects this to be a healthy correction and accumulation phase in the existing upward trend. Investors should prioritize holding strategies and proactive risk management. New purchases should only be carried out after careful selection. At the same time, investors need to maintain a reasonable cash ratio to increase flexibility when the index has a clear confirmation of the trend.
In the current context, Asean Securities Company recommends that short-term investors should maintain a safe ratio, avoid chasing purchases in recovery phases and focus on trading in the support zone of 1,880-1,890 and the resistance zone of 1,900-1,910, while prioritizing stock groups with their own story such as state capital divestment, market upgrades, economic development resolutions or offshore oil and gas cycles.
At the same time, medium and long-term investors can take advantage of adjustments to the support zone to partially disburse into industry groups with solid fundamentals and high liquidity such as banking, securities, retail, public investment and oil and gas.
