Investors' concerns increased in the stock market after yesterday's fairly strong decline (October 27). This has caused adjustment pressure since the beginning of today's trading session, October 28. The strong selling pressure in the "hammock" group of Vingroup stocks has caused investors to feel quite heavy and the VN-Index has sometimes early cracked the upper reaches of the old bottom of August at 1,630 points before the break.
The index's decline even reached 1,620 points at times when trading resumed in the afternoon session. However, at that time, the demand for bottom-fishing increased strongly and spread to many industry groups.
In particular, Vingroup's stock group significantly narrowed down, many bluechips of banks, securities companies and other leading stocks reversed and increased positively.
VN-Index had plummeted by about 30 points before bouncing back spectacularly, closing the session on October 28 with an increase of 28 points, reaching 1,680 points. Liquidity remains high, with a trading value on HOSE of nearly VND30,000 billion. Foreign investors are positive as they reverse to net buy with a value of VND 1,475 billion in the whole market.
The VN30 group only had PLX shares slightly decreased and SAB stood for reference, the rest closed for increase. In particular, Vingroup's shares with VHM, VRE, VIC have increased from floor prices to 0.5%, 1.9% and 2.9% respectively.
Another highlight is VJC shares when they returned to the ceiling price of +7% to VND 187,500. FPT followed when it increased by 4.3% to VND 102,200. Bank stocks TPB, TCB, HDB, STB, VPB, VIB, along with HPG, SSI, MWG codes flourished with an increase of 2% to more than 4% and contributed greatly to the VN-Index.
Liquidity of the three bluechip codes SSI, MBB, SHB this session is the highest on the floor, with more than 34.4 million to more than 67.5 million units.
Other stocks with positive increases also come from securities companies with FTS, TCI, VDS, DSE, VND, VIX, CTS, ORS, real estate, construction, raw materials groups with VPI, K human, NKG, HDC, DRH, TCH, DXG, HPX, PDR, SCR, with increases from nearly 3% to more than 5%.
Experts assess that after a sharp decline and almost penetrating important support zones, the market is gradually regaining its balance. Although the width has not improved significantly, weak selling pressure on a large scale and the alternating recovery of pillar stocks have helped the index stabilize again.
In the context of temporary sales cooling down, the market has the opportunity to continue to recover, heading towards the MA20 mark and the uptrend channel formed from mid-August. However, cash flow is not strong enough to confirm a sustainable uptrend. Risk of fluctuations during recovery. Therefore, the short-term mainstream trend is expected to lean towards a state of tug-of-war and accumulation.
