Overview of the market
According to Lao Dong, at the end of yesterday's session (6.3), the market had a strong recovery momentum when the VN-Index closed at the highest level of the session, reaching 1,318.2 points, up 13.5 points (+1.04%). Other indicators also increased in scores with VN30 increasing by 1.15%, VNMidcap increasing by 1.47% and VNSmallcap increasing by 0.71%.
Market liquidity exploded when the trading value matched the order to 20.6 trillion VND, the highest level since the session on October 4, 2024. The market width also tends to increase with 365 codes increased compared to 121 codes decreased, showing the dominance of buyers.
Optimism covered most industry groups, except for the Oil and Gas group when BSR decreased by 1.3% and OIL decreased by 1.5%. Meanwhile, the Securities group traded strongly with VIX increasing the ceiling, FTS increasing by 4.9% and VCI increasing by 3.8%. The Retail group also broke through when DGW increased by 5.1% and MWG increased by 3.9%. In the Technology group, FPT increased by 1.8%, while the Chemical group recorded a GVR increase of 3%. The Construction and Materials group also had positive developments with CTD increasing by 5%, while the Steel - Concrete group saw NKG increase by 3.9%.
Notably, foreign investors returned to net buy VND431 billion after a series of 10 consecutive net sales. Purchasing power focused on stocks such as HPG with a net buying value of VND204 billion, MWG with VND169 billion and EIB with VND128 billion. On the other hand, TPB was the most net-sold code with a value of 124 billion VND.
Positive developments in both scores and liquidity show that investor sentiment is gradually stabilizing, expecting the market to continue to maintain its upward momentum in the coming sessions.
Investment recommendations today
Holding good core stocks, VN-Index is likely to conquer 1,327 - 1,370 points
According to Kien Thiet Vietnam Securities (CSI), it is likely that the index will continue to increase to conquer the 1,327 point threshold in the next session. In this region, the market may fluctuate and accumulate in a few sessions before continuing to move towards higher levels in the range of 1,360-1,365 points.
AIS Joint Stock Company also commented that VN-Index has formed a green Marubozu candle, completely denying the selling pressure of the previous session. This shows that cash flow is still strongly maintained as soon as the market adjusted to the support zone of 1,300 points. The main trend is still increasing, with the target being 1,330 points (equivalent to Fibonacci Extension 38.2%) and further reaching 1,370 points (Fibonacci Extension 50%).
In the context of a positive market, investors can continue to hold stocks with good fundamentals and good business prospects in the first quarter of 2025.
Notable stocks today
GMD - KBSV Joint Stock Company recommends buying at a target price of VND 76,000; growth thanks to increased port cargo output and service prices.
PVS - SHS Joint Stock Company recommends increasing the proportion with target price of VND 43,304; potential from oil and gas, wind power projects and stable profits.
CTG - SHS Securities recommends optimism; benefit from credit growth, improved assets and capital increase plans.
VCG - VCI Joint Stock Company recommends neutrality; benefit from opportunities from public investment but face risks of material prices and capital disbursement.
The information in the article is for reference only and is not considered a decision to buy, sell or hold any shares.
Investors need to consider carefully and please consult an expert before trading.
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