Entering today's trading session (September 24), the stock market continued to recover slightly when opening the trading session. However, the support from some bluechip codes is quite weak, while selling pressure quickly returns widely, causing the VN-Index to reverse and adjust.
The decline became more widespread as the VN30 group increased pressure, causing the VN-Index to widen its downward range and only rebound when pushed below the price range of 1,620 points.
At the end of the trading session, after a series of strong selling days, leading to a series of market adjustment sessions, banking stocks suddenly became a "push" for the index. At the end of today's session, the VN-Index increased by 22.2 points, equivalent to 1.36%, to 1,657.4 points. The entire HoSE floor recorded 231 stocks, compared to 88 stocks decreased and 51 stocks kept the reference price.
Although the VN-Index bounced strongly, liquidity was not as expected by investors with approximately 990 million shares matched, equivalent to a trading value of VND26,712 billion.
Contributing to today's increase is the group of king stocks with the "pull-up" being the VPB code. At the end of the session, this code increased by 5.7% and contributed more than 3.3 points to the VN-Index. Notably, in the Top 15 stocks contributing the most points to the VN-Index, there are up to 11 bank stocks.
In addition to scores, the group of "king" stocks also contributes greatly to liquidity. Specifically, SHB code leads in transaction value with VND 3,220 billion. The list of codes with transaction value in the Top 10 also includes bank codes such as: VPB, HDB, MBB, TPB, TCB.
In contrast to the excitement of domestic cash flow, foreign investors still maintain the pressure to sell. According to statistics, in today's session, foreign investors net sold more than VND1,500 billion on the HoSE. Of which, the Top 5 most net-sold stocks are VHM (245 billion VND), SSI (198 billion VND), VPB (123 billion VND),...
For the first time after 5 consecutive sessions of decline, the VN-Index closed in green with an increase exceeding expectations. However, investors still show certain caution when supply and demand fluctuate on a low liquidity basis within a narrow range around the price range of 1,635 points.
Investors believe that the fluctuations and fluctuations may continue in the short term in the context of the VN-Index moving below important trend lines, for example the 20-day MA. It is likely that the VN-Index will continue to Sideway in a narrow range in the coming sessions before liquidity returns to normal.
Investors with a high cash ratio should apply a partial disbursement strategy at the fluctuations in the session. Accordingly, priority stocks for observation are in leading sectors and benefit from loose macro policies (banking, securities, real estate, retail, etc.).
Meanwhile, investors holding stocks should only maintain their position with representatives holding prices better than the market, and are moving in an upward trend along with safe capital prices.
Experts continue to maintain a cautious view, continue to patiently wait for the new balance state and especially wait for liquidity to return before opening new buying positions.
