In yesterday's trading session (September 3rd), VN-Index closed down in the first trading day of September and cut the previous seven consecutive increasing sessions. The down session had a decrease in liquidity compared to the previous trading session, the matched order volume was 9% lower than the 20-session average.
A noteworthy point is that the decrease range was significantly narrowed towards the end of the session thanks to the large-cap stock group, especially VIC stock, while most stock groups still decreased quite sharply.
According to estimates, VN-Index actually decreased by nearly 20 points in yesterday's session if excluding the contribution of about 14 points of VIC stock. Although adjustment pressure spread widely, liquidity has not shown strong sell-off signals.
Moving to this morning session September 4, the market index jumped sharply right at the opening, VN-Index jumped to 1,860 points, equivalent to nearly 35 points before decreasing to the 1,850 point zone after more than 1 hour of trading.
The main driving force of the market continues to come from Vingroup's stock group, while the rest of the electronic board is still dominated by red, many industry groups do not record strong fluctuations and liquidity is still only at an average level.
At the end of the morning session, VN-Index increased by 19.82 points (+1.08%), to 1,847.54 points with 111 gainers and 172 losers. Total trading volume reached more than 265.6 million units, worth 7,584 billion VND, down nearly 6% in both volume and value compared to yesterday's morning session. Block transactions contributed more than 66.3 million units, worth 1,680 billion VND.
Vingroup stocks are still the main drivers with a total of more than 20 positive points for VN-Index, in which VIC alone accounted for nearly 16 points with the increase of this stock being +3.9% to 254,000 VND/share, VHM +2.9% to 75,500 VND/share, VPL increased by more than 2% and VRE increased by 1.5%.
Other bluechips besides VIB increased by more than 2%, while other gainers also only had a slight increase. Meanwhile, in the opposite direction, losing stocks also did not decrease deeply, with SSB leading only losing 1.6% to 17,950 VND/share.
Notably, the appearance of DGC shares when there was information that the 80% cash dividend in September increased sharply by more than 6% to 47,650 VND/share, matching more than 1.4 million units.
Commenting on the market, Asean Securities Company said that although the current state of struggling in a narrow range shows that supply and demand are in a temporary balanced position, the market is likely to struggle in the range of 1,800-1,830 points due to the short-term impact of world geopolitical fluctuations.
Faced with this development, short-term investors should maintain an average ratio, avoid chasing purchases and focus on trading in the range of 1,830-1,860 points, while paying attention to stock groups with their own stories such as state divestment, economic development resolutions, market upgrade roadmaps or offshore oil and gas cycles.
TPBS Securities Company believes that VN-Index is still characterized by an upward trend. Accordingly, experts expect unfavorable developments in the short term to quickly pass, and the market is likely to return to an upward trajectory.
TPBS maintains a positive view on the VN-Index in the next few weeks but does not encourage investors to chase at all costs, because existing resistance zones may create more safe buying opportunities.
