After two consecutive recovery sessions, VN-Index turned down sharply in the morning session of June 17 under great pressure from large-cap stocks, while cash flow continued to be cautious waiting for important information.
However, entering the afternoon trading session, bottom-fishing cash flow appeared concentrated in the banking stock group, along with selling pressure cooling down in the bluechip stock group, which helped the VN-Index reverse dramatically.
Closing the trading session on June 17, VN-Index only decreased by 1.74 points (-0.10%) to 1,806.2 points with 174 gainers and 129 losers. Total trading volume reached 821.6 million units, worth 24,185 billion VND. Of which, negotiated transactions contributed 195.2 million units, worth 7.072 billion VND.
Although the trading value increased sharply by 45% compared to the previous session, a significant part came from large-scale block transactions. This shows that investor sentiment is still cautious and there has not been widespread excitement.
Regarding the level of impact, VIC, VHM, HVN and BSR are the codes that have the most negative impact on VN-Index and took away more than 6.03 points. In the opposite direction, BID, CTG, VJC and VCB are codes that maintained green color, helping the index increase by 4.2 points.
A noteworthy point of today's market is that the banking stock group had a positive trading session with green dominating, with only 4 codes slightly decreasing: NAB, OCB, TCB and ACB. Banking codes contributed more than 4.5 points to VN-Index.
Meanwhile, the pressure of the Vingroup group decreased when VIC, VHM and VRE only decreased by more than 1%, while the morning session decreased by more than 3% to nearly 4%; VPL returned to reference.
Experts assess that the 1,800-1,810 point zone continues to play a near supporting role and may create a foundation for the next upward momentum.The fact that the banking group simultaneously increased prices and contributed more than 4.5 points to VN-Index in today's session shows that cash flow is still looking for stocks with good fundamentals to play a leading role in the market.
If the banking group maintains its supporting role and the adjustment pressure in the large-cap group continues to cool down, VN-Index may soon return to test the resistance zone of 1,820-1,830 points in the coming sessions.
In the context of the market breadth leaning towards positive, short-term investors can maintain the proportion of stocks at an average-good level, prioritize holding positions that are trending well and take advantage of fluctuations to increase selectively, instead of chasing at strongly rising price zones.
Cash flow may continue to reach securities, banking and stocks benefiting from market upgrade stories, state capital divestment, private economic development, public investment and offshore oil and gas cycles.
For medium and long-term investors, adjustments to the support zone are still opportunities to partially disburse into businesses with solid fundamentals, clear growth prospects and high liquidity.
