In today's trading session (February 21), bank stocks have become a spearhead for the VN Index. With the largest market capitalization, banking stocks are still strong enough to green the index even though the number of stocks decreased more than the number of stocks increased on the electricity board.
Statistics show that the group of stocks that contributed the most positively to today's session are bank codes including: VCB, CTG, VPB, ACB, HDB. Along with that are codes such as: BCM, MWG, VNM, BVH.
Thanks to the breakthrough of large stocks, the VN-Index ended the session on February 21 with nearly 4 points of increase, equivalent to 0.3%, reaching 1,297 points.
In contrast to the increase of the index, liquidity in today's session continued to decrease slightly with 741 million shares matched, equivalent to a trading value of VND 15,940 billion.
In today's session, foreign investors continued to strongly release FPT codes (147 billion VND), followed by K Human (55 billion VND).
On the contrary, foreign investors gathered stock codes such as VCI, SSI, VIX, VND. In total, foreign investors net sold VND193 billion on the HoSE.
According to analysts, the market is facing an important resistance level in the 1,285 - 1,305 point range, which is a big challenge that VN-Index is having difficulty testing since August 2022.
If the general index completely breaks this price range, an increase can be formed.
In the context of complex international geopolitics, domestic market reform efforts are where analysts have high expectations.
The Dragon Capital Securities Analysis Center (VDSC Research) expressed its view that Vietnam will likely be assessed as eligible for upgrading to emerging market status according to FTSE, in the March 2025 update period.
At the same time, information about the operation of the new transaction system (KRX) will create more positive highlights in the next 3 months.
According to VDSC Research, the technology infrastructure of the KRX system is ready, but the project has not yet been officially operated due to remaining problems with paperwork.
In addition to potential market reforms, information about the prospects of each enterprise will also be a source of discussion for investors.
Starting from the second half of the first quarter of 2025, the 2025 business plan and the first quarter profit of the listed company are expected by VDSC Research to bring positive colors to the market.
Analysts estimate that after-tax profits of the VN-Index group of enterprises may grow by 7% over the same period.
This growth rate has slowed somewhat due to the forecast of slight decrease in non-financial group profits, while the financial services group (including securities companies) was affected by asset turnover when market liquidity remained low compared to the same period.
However, VDSC Research still believes that the market's profit growth will continue to bring the VN-Index valuation to the low range.
Compared to the deposit interest rate level, increasing the proportion to the listed capital market is still appropriate in the current context.
In the short term, liquidity continues to be low and the cash balance of investors in securities companies has decreased to a low level in the past 6 quarters.
VDSC Research said that investors will have difficulty finding short-term profits when cash flow is not supportive.
