Entering today's trading session on December 3, the stock market continued to open in a continuous increase, entering the resistance zone of 1,720 - 1,730 points. However, profit-taking pressure in pillar stocks such as Vingroup, VJC, GVR, SAB caused the VN-Index to fluctuate, and at times was pushed below the reference level even on the electronic board, green dominated the red color.
However, the decreasing low supply force has helped many stocks recover and the VN-Index also regained its upward momentum. At the end of the session, VN Index increased by 14.7 points, equivalent to 0.86%, to 1,731.7 points. This is a historic score after more than 25 years of operation of the Vietnamese stock market.
The HoSE Electricity Stock Exchange recorded an overwhelming increase in the number of codes. Specifically, there are 225 stocks increased, (8 stocks increased ceiling) compared to 101 stocks decreased and stocks went sideways.
The most active contribution to the session index was CTG banking code, up 6% and contributing nearly 3.8 points to the increase of VN-Index. Next are bank codes such as: BID (2.5 points), VPB (2.5 points), VCB (2.5 points), MBB (1.9 points).
In contrast to the excitement of the banking group, Vingroup stocks are under pressure to take profits. Specifically, VIC decreased by 2% and caused the index to lose nearly 4.8 points. VPL and VRE codes are also in the group that negatively impacted the market today.
The return of the "king" group of stocks has helped the liquidity of the stock market improve significantly with over 782 million matched stocks, equivalent to a trading value of over VND 24,330 billion.
The most impressive thing in today's trading session came from the strange move of foreign investors. According to statistics, foreign investors have net bought more than VND 3,200 billion in VPL codes. Thanks to that, this group of investors recorded a net buying session of more than VND 3,600 billion. In addition to VPL codes, foreign investors pour money into banking stocks.
According to analysts at VFS Securities Company, the market in November witnessed a clear differentiation in cash flow, instead of spreading, cash flow tended to focus on pillar and lead stocks.
Cash flow recorded a sharp decrease in many industry groups, especially (-58.17%) in the Automobile and spare parts group and this is also the industry group that recorded the lowest performance with -8.35% compared to the previous month. The Basic Resources Group recorded 2 consecutive months of major declines in cash flow (-37.56%). Along with that, the Real Estate, Tourism and Entertainment groups are the groups with the best performance in the market.
The midcap/mechanical group has "falled" 25-35% from the peak, the valuation level has returned to the attractive zone. The appearance of bottom-fishing cash flow shows that the market is creating a balanced area and consolidating the recovery signal.
"Many deep-division stocks could be the core to this recovery with cheap valuations that easily attract cash flow. The securities, banking, and real estate sectors will still be hot spots of the market. Especially with the characteristic of weak liquidity, small and medium-sized stocks will be the focus in the coming time," VFS experts commented.
VFS forecasts that the short-term sideways trend will not be broken. Investors maintain the stock ratio at 50-80% of the portfolio without taking action early until a clear signal is shown. The analysis team proposed 2 scenarios:
Scenario 1 is that VN-Index creates a trap of increasing prices down with low liquidity to find deeper support in the 1,530-1.580 zone. In this scenario, investors need to keep the proportion of stocks cautious below 50%.
Scenario 2 is the expected scenario with a high probability that VN-Index successfully conquers MA50 on the day and surpasses 1,700 success points on the weekly quarter at the mid-term bottom with liquidity returning. Investors can increase the proportion of stocks to 80-100%.
