Entering today's trading session (December 19), the development of the VN-Index has been more positive as it has increased its score early and continued to reach higher levels and approach the psychological mark of 1,700 points, with the main contribution from Vingroup stocks with VHM and VIC increasing by 4-5%, along with the green color of other stocks in the VN30 basket.
The heat of Vingroup helped VN Index increase by more than 27 points, equivalent to 1.63%, to 1,704.3 points. According to statistics, VIC contributed nearly 10.5 points to the index, followed by VHM (6.5 points), VPL (2.1 points), VRE (0.7 points).
In addition to Vingroup, the bright spot in today's session also came from foreign investors with a net buying value on the HoSE reaching more than VND500 billion. The top 5 most strongly traded codes are HPG, SSI, BSR, VIX and MSN. On the contrary, foreign investors are strongly releasing DGC, VIC, FPT, HVN.
Despite the strong increase, the HoSE electricity board is quite balanced with 162 codes increasing compared to 154 codes decreasing. Liquidity in today's session has improved a lot with nearly 770 million shares matched, equivalent to a trading value of VND23,890 billion.
Notably, DGC shares alone contributed more than 10% to HoSE's liquidity with VND2,624 billion. In recent trading sessions, DGC shares of Duc Giang Chemical Group Joint Stock Company attracted investors' attention when they were continuously sold strongly with tens of millions of shares sold at floor prices. Although stocks have continuously fallen, businesses have not taken any action to reassure investors.
This incident caused investors to " dig" and "wait" to buy to catch the bottom when there were signs of reversal. The bottom-fishing cash flow quickly "swallowed" the amount of stocks sold on the stock exchange in this morning's session. At one point, DGC increased the price to nearly the ceiling of VND80,100/share. However, the heat of DGC quickly "cooled down" when the amount of cheap goods suddenly pushed up the electric board, causing this stock code to be pushed back to near the floor price of VND70,200/share.
According to experts, the market's recovery is not uniform, cash flow is strongly concentrated in certain industry groups and stocks, while many other groups are still moving slowly. This is not an easy growth cycle, but a period when the market is both going up and screening very strongly.
In addition, what investors and experts are currently mentioning is that increasing interest rates is always an unfavorable factor for the stock market, especially in the short term. According to current forecasts, deposit interest rates may increase by about 50 basis points in 2026, if deposit growth is still worse than credit growth. This will affect lending interest rates, increase capital costs, affect the profit margin of enterprises and put pressure on the stock market.
From a more optimistic perspective, Mr. Nguyen Manh Dung, Senior Director of HSC Market Strategy Research, said that in the baseline scenario, VN-Index is about 1,828 points, the P/E index is about 12.7 times. In the bull market, a reasonable standard deviation can be added, so it can be up to 1,958 points. If optimistic, the VN-Index can reach 2,000 points.
"The market is at a relatively good valuation and when policies to promote growth are better, the market is likely to have a new peak," the expert commented.
