In today's session (August 25), VN-Index quickly surpassed the 1,800 point mark thanks to momentum from VIC stocks, while liquidity continued to show signs of improvement. However, the electronic board in general did not go hand in hand when red dominated and somewhat overwhelmed towards the end of the day due to increased profit-taking pressure.
At the end of the session, VN-Index increased by 2.63 points (0.15%), to 1,791.41 points. Although the index still maintained green, the HoSE board sank in red with 225 decliners, while the number of gainers was only 93.
The bright spot in today's session came from liquidity when cash flow on HoSE continued to be maintained at a high level. More than 835.4 million shares were successfully transferred, equivalent to a transaction value of more than 21,280 billion VND.
Foreign investors also contributed to supporting the market when continuing to net buy for the 3rd consecutive session. In today's session alone, foreign investors net bought about 280 billion VND, of which VIC was the strongest net bought stock with a value of 362 billion VND.
VIC stock is still the main driving force, although at the end of the session the increase was only +2.8% to 220,500 VND/share, matched 10.3 million units, but contributed more than 10 points to VN-Index. Other stocks in the bluechip group increased not much with SSB increasing by more than 2%, while GVR, LPB, MCH increased by around 1%.
In the opposite direction, supply pressure was also limited and declining stocks did not lose deeply, with HPG and BSR leading only losing 2-2.5%. TCX, ACB, HDB, MWG, GAS stocks decreased by more than 1%.
In the group of declining stocks, low-price supply did not appear much and investors mainly restructured their portfolios, with some such as CII, NHA, CRE, GEL, ORS, NTL decreasing from nearly 3% to more than 4%.
Another notable point in the session was VIX stock when liquidity was the highest on the exchange with more than 73.6 million units, far ahead of the rest and recording the most active session in nearly 2 months, stock price edged up more than 2% to 14,100 VND.
Today's session diễn biến shows that although cash flow has improved significantly. However, profit-taking pressure increased significantly as VN-Index approached the resistance level of 1,800 points. The fact that the index narrowed its upward momentum towards the end of the session shows that the 1,800 point zone is an important test threshold for the market.
Investors still expect that VN-Index will continue to maintain an upward trend this week and test the 1,800 point zone. However, the upward process is unlikely to take place in a straight line. The index may continue to experience some fluctuations due to short-term profit-taking pressure, especially when the market approaches the psychological resistance zone of 1,800 points and the holiday is approaching.
The positive point is that the market is still supported by three factors: economic growth prospects, improved corporate profits and expectations of new capital flows before Vietnam is officially included in FTSE Russell's emerging market group. Therefore, if liquidity is maintained at a high level and cash flow continues to circulate between industry groups, adjustments in the coming week are likely to be only technical, thereby creating a price base for a new wave of increase after the holidays.
