In today's trading session (February 27), VIC shares continued to play a supporting role, while cash flow suddenly turned to the transportation and oil and gas stock groups, creating a different highlight in the differentiated picture of the market.
However, in the context that VN-Index touched near the old peak of January, equivalent to the 1,880-1,920 point zone, investors have even more reason to be cautious.
The VN-Index index accordingly fluctuated slightly and ended the session almost unchanged. At the end of the last trading session of February, HOSE had 132 gainers and 202 losers, VN-Index increased by 0.69 points (+0.04%), to 1,880.33 points. Total trading volume reached more than 927.7 million units, worth 30,045.9 billion VND.
Regarding foreign investors' transactions, although net selling decreased in the last session of the week, they still "discharged" more than 400 billion VND in 2 Bluechips codes, VNM with a value of about 243 billion VND, followed by VCB 163 billion VND.
Thus, at the end of the first week of the new year Binh Ngo, the VN-Index increased by more than 56 points, equivalent to +3.08%. Today is also the last trading session of February and in this month, the VN-Index recorded an increase of more than 51 points.
In the last session of yesterday's week, VIC stock was still the largest contributor to the VN-Index with more than 5 points. Notably, the group of small and medium-sized stocks with a few individual stocks related to transportation, oil and gas, logistics received attention from cash flow accompanied by positive liquidity. In contrast, some stocks in the construction and real estate groups still faced pressure.
Experts believe that in a positive scenario, VN-Index may continue to inertically increase to retest the peak zone near 1,900 points. If successfully surpassing this zone with high liquidity maintained, the index may expand its upward momentum to the area of 1,920-1,940 points.
Conversely, in case of strong fluctuations, VN-Index may retreat to test the support zone near 1,850 points, deeper to the 1,820 point zone before establishing a clearer trend.
In a positive scenario, VN-Index may reach the 2-120 point zone, equivalent to an increase of about 18.8%. For long-term investors, the appropriate strategy is still to hold stocks to accompany the upgrade cycle and increase corporate profits.
In terms of valuation, the projected P/E ratio for 2025 is 14.9 times - higher than the 10-year average - showing that the market has reflected most of the profit story of the past year. However, looking to 2026, the projected P/E ratio is only about 12.7 times, lower than the long-term average. This is considered a valuation range that allows long-term investors to continue to patiently hold.
Notable investment topics include banks, with profits forecast to increase by about 17.3% thanks to credit maintained at a high level; in which, investors can prioritize stocks such as CTG, VCB, VPB, MBB. Consumption is expected to record double-digit growth, thanks to the expansion of retail networks, while benefiting from tax policy changes effective from 2026.
Infrastructure and building materials directly benefit from promoting public investment as well as the recovery of the real estate market; however, the real estate group is considered more suitable for a short-term trading strategy. The group benefiting from interest rates includes insurance and businesses with large cash holdings, especially in the oil and gas and fertilizer industries.
State-owned enterprise reform is another noteworthy topic, as Resolution 79-NQ/TW and the divestment roadmap are expected to improve the Technology Group, which, after the quiet period of 2025, is possessing an attractive profit base and valuation level, thereby opening up room for a new recovery cycle.
