The first trading session of the stock market when it was officially upgraded at the beginning of yesterday's week was not as expected, when VN-Index fell sharply and lost the important threshold of 1,800 points. In the scenario of losing this support level, the market is forecast to face the risk of reversal in the short-term trend.
Entering today's trading session on September 22, the market had to face early fluctuations, low liquidity and the absence of attractive stock groups to attract cash flow. Although the electronic board is positive, purchasing power only stops at a survey level, making investor psychological motivation visibly weaker, with volume and trading value sharply decreasing.
However, thanks to the strong return of VIC, the stock with the largest market capitalization, helped VN-Index increase by more than 17 points in the trading session on September 22, reaching 1,817 points. Although the index increased quite strongly, the market breadth was not really positive when the number of gainers was only slightly higher than the number of losers. The whole exchange recorded 163 gainers, while 127 decliners. Liquidity continued to decline in today's session, with 531.6 million shares transferred, corresponding to a total trading value of 12,844 billion VND.
VIC shares in this session increased by 3.74% to 243,800 VND, matched orders reached more than 1.49 million units and contributed nearly 17 points to VN-Index. Ranked 2nd in terms of positive contribution is VHM with 2.2 points.
The rest of the VN30 group mostly fluctuated slightly, except for MSN when +3.84% to 70,300 VND, matching 8.9 million units and SSB stock when falling to the floor -6.9% to 20,900 VND, matching 3.8 million units.
Small and medium-cap stocks also did not have many highlights, except for the Gelex stock group when there was high consensus, with GEE maintaining the ceiling price of +6.9% to 66,500 VND, GEX +3.2% to 24,400 VND, VGC +2.9% to 41,000 VND, VIX +2% to 13,050 VND and GEL slightly increasing 1% to 28,900 VND.
In which, VIX is still the name that attracts the most liquidity in the market when there are more than 19.6 million units matched orders. Other codes with the oil and gas group at PVP increased to the ceiling price to 19,500 VND, PVT +4.6% to 24,100 VND, or transportation and logistics with HAH, VOS increased by around 3%.
Experts predict that the market will enter a phase of accumulation and suffer stronger selling pressure in the second half of September, once capital from FTSE upgrades has been absorbed. Looking back at the past, liquidity in September has not improved much compared to August. Therefore, cash flow is likely to rotate between industry groups rather than creating a clear trend across the market.
In that context, experts recommend that investors prioritize defensive stocks and maintain a selective mindset. September is a period for the market to re-accumulate rather than continue a new upward cycle. The market's upward momentum around the FTSE upgrade event is an opportunity to realize profits and reduce the proportion of stocks with high beta coefficients.
