The stock market has not yet been able to completely overcome the psychological resistance level of 1,300 points. A large number of investors are still skeptical, even waiting to surpass 1,300 points before participating, so the fomo state of the cash flow has not been activated to the maximum.
However, the fact that cash flow is spreading quite well from large-cap stocks to small-cap stocks also attracts strong cash flow, showing a relatively clear momentum to surpass the peak in the coming time. Not only is the general market showing positive signals, foreign investors are also adding strength when there have been more net buying sessions.
Analyzing the factors that will drive the market in the remaining months of the year, Dr. Nguyen Duy Phuong - Investment Director of DG Capital - commented that the most expected driving force for stocks still comes from untangling the current market. The short-term solution is still refunding and upgrading the market.
In addition, the US Federal Reserve (Fed) has decided to cut interest rates by 50 basis points, which will help the State Bank loosen monetary policy. Along with the newly recorded damage from natural disasters, it is likely that the Government will launch more support packages for the economy to recover better.
Regarding the stock groups that play a leading role in the market, Dr. Phuong said that the focus will be on the three industries with the largest capitalization today: banking, securities and real estate.
For banks and securities, growth this year is still good. Valuations are still low and the upcoming interest rate environment and the cooling exchange rate make it highly likely that these two groups will directly benefit and lead the market in the final months of the year.
As for real estate, although still speculative and dark, at least the market has seen light at the end of the tunnel. With interest rates kept low, the real estate group will have a brighter window, especially since the period of illiquidity for this group has passed.
Many experts are also of the opinion that the changes in the stock market are considered a premise to help form a new wave of growth. If the wave continues to be maintained, it will help improve the probability of short-term investment, thereby encouraging the return of large cash flows and creating more abundant investment opportunities. The scenario of VN-Index returning to the 1,300 point zone is the priority scenario at this time.
However, it should be noted that the VN-Index is facing strong resistance at the 1,290 - 1,300 point range. This is an area that is likely to create profit-taking pressure in the upcoming sessions, so investors should be cautious when approaching short-term opportunities. With the uptrend starting to return, corrections will be an opportunity for investors to increase their stock holdings in the prospect of finding profits in the fourth quarter of 2024.
