After a fairly strong increase, the stock market had a fairly strong correction session yesterday (September 7), when retesting the old peak equivalent to the 1,870-1,933 point zone.
Although decreasing sharply, the large level of impact comes from a few large stocks, especially VIC, making the diễn biến of VN-Index therefore may not fully reflect the general level of the market.
Entering today's trading session (September 8), the gloomy diễn biến continued with weak liquidity and high differentiation on the electronic board. The VN-Index accordingly fluctuated and struggled for most of the session, before jumping above the 1.825-1.830 point zone at the end of the day thanks to VIC stock reversing to increase support, as well as reduced supply.
Closing the session on September 8th, VN-Index increased by 8.80 points (+0.48%), to 1,830.44 points. Total trading volume reached more than 559.4 million units, worth nearly 14,185 billion VND. Block transactions contributed more than 156.6 million units, worth 3,450 billion VND.
VIC shares contributed more than 7.5 points to VN-Index with an increase of 1.9% to 249,600 VND, matching more than 6.26 million units. Other bluechips that increased significantly were the oil and gas pair BSR and GAS when crude oil prices edged up. Accordingly, GAS +1.9% to 84,400 VND and BSR +2.7% to 27,000 VND. These are also the best gainers in the VN30 basket.
In the opposite direction, VRE was the stock that decreased the most, losing nearly 3% to 26,200 VND. Followed by STB, VHM, LPB but only decreased by about 1%.
The September market may be supported by new cash flow and a relatively reasonable valuation level. However, high interest rates, along with uncertainties from US tariff policies and geopolitics are still factors that may limit the market's upward momentum.
Experts assess that VN-Index is likely to maintain a state of stalemate and differentiation in a wide range, when capital flows from active funds are not really strong and the general level of interest rates has not decreased significantly. The main operating range of the index is forecast to be around 1,780 points, with an amplitude of about ±100 points.
The room for increase will be wider if the upgrade effect activates domestic and international capital flows, and the large-cap stock group alternately plays a leading role.
In conditions of improved liquidity, cooling interest rates and no major shocks from tariffs or geopolitics, VN-Index may head towards the peak of the year around 1,930 points.
In the opposite direction, the risk to watch is that the upgrade effect does not lead to real cash flow, while exchange rate and interest rate pressure increase. At that time, the market may experience strong corrections.
Investors are still cautious and lean towards the scenario that the September market will continue to differentiate and fluctuate, but opportunities to move towards higher points are still present if liquidity improves and macroeconomic factors are favorable.
