The stock market is still testing momentum at the resistance zone of 1,240 points and investors are still cautious when reducing disbursement and taking partial profits.
The positive point is that the selling activity is under control, concentrated in high price areas, and there has not been strong selling pressure in low price areas. When there is no large-volume selling activity, the index still has the opportunity to create recovery phases.
Cash flow is still in a state of stagnation as large-cap stocks stagnate with demand gradually decreasing under pressure from the selling side, indicating that the sideways trend may continue in the coming time as the market is in the process of accumulating liquidity, gradually shaking off selling pressure.
In the current context, based on the third quarter business reports of enterprises and developments on major exchanges, we can see the differentiation and fluctuations between economic sectors.
This differentiation and volatility partly creates conditions for investors to "screen" stocks, paying attention to potential businesses in the midst of difficult circumstances.
According to FiinTrade data as of November 1, 2024, the strongest recovery was on the HOSE floor, where listed companies achieved a growth rate of 31.1%, and on the HNX floor, the growth reached 22.7%.
These figures reflect a clear recovery of the domestic economy, especially when compared to the difficult times of the previous year. However, contrary to the general growth momentum, the UPCOM floor recorded a significant decline, down 24.4% compared to the same period.
Analysts from VPS Securities Joint Stock Company (VPS) assessed that in the third quarter of 2024, the Vietnamese stock market became vibrant with positive developments from key economic sectors. Although there were some difficulties in the recovery process, the overall picture of the market showed many attractive opportunities, especially for investors who know how to "separate the bad from the good" and look for "purple" stocks - referring to stocks with potential for sustainable growth and impressive profits.
“This shows a clear differentiation between exchanges and shows that not all economic sectors are recovering equally. In fact, this volatility partly creates conditions for investors to “screen” stocks, paying attention to potential businesses in the difficult context,” VPS experts commented.
