Although banking stocks have performed quite prominently in the past week, VN-INDEX is still trading quite negatively, decreasing broadly across most industry groups. Many codes/groups of codes are under strong selling pressure, especially for codes whose business results in the second quarter of 2024 are not as expected.
At the end of the week, VN-INDEX decreased by 1.25% compared to the previous week to 1,264.70 points. Trading volume increased by 11.61% compared to last week, showing strong selling pressure in many codes as well as a sudden increase in banking codes. Meanwhile, the VN30 was quite positive, increasing slightly by 0.04% compared to last week, maintaining above the psychological support zone of around 1,300 points. Foreign investors continued their net selling momentum with 767 billion VND on HOSE, focusing on MSN (483 billion), FPT (375 billion), VHM (292 billion) and VPB (203.7 billion). In the opposite direction, they net bought SBT (448 billion), MWG (274 billion)...
With current developments, experts from Vietcombank Securities Company predict that VN-INDEX may continue to decline by inertia in the early sessions of next week and then accumulate again. The main trend of the market will still be towards the area of 1,300 - 1,310 points.
After successfully restructuring the portfolio, investors should consider selecting and disbursing a small proportion in stocks that have good momentum and are not affected by general market developments in industry groups such as stocks, retail. Besides, margin use should also be limited at this time to avoid unexpected potential risks occurring in the short term.
According to experts from SHS Securities Company, if there are no new uncertain negative factors appearing, VN-INDEX in the price range around 1,250 points is still reasonable to consider. Expectations will be towards the resistance zone around 1,300 points when factors such as geopolitical tensions in the world, inflation pressure, exchange rates, and foreign net selling cool down.
Short-term investors should maintain a reasonable proportion. Medium- and long-term investors holding current portfolios and positions should consider increasing new proportions, making careful assessments based on second quarter business results and year-end prospects of leading companies in the industry. When VN-INDEX continues to adjust, in case the proportion is below the average level, disbursement can be considered when VN-INDEX reaches around 1,250 points. The target is the leading stock codes in the industry, with good growth in second quarter business results and positive prospects at the end of the year.
