After a strong increase over the weekend that helped VN-Index surpass the strong resistance level of 1,250 points, confirming the best increase since the beginning of the year, analysts assessed that this was an explosive session following the momentum that helped the market expect a return. more positive developments about the upcoming trend.
As expected, in the trading session earlier this week on August 19, VN-Index continued to maintain its upward momentum with an increase of 9.39 points to 1,261.62 points. The overall market breadth tilted in the green with the buyers having 446 increasing codes and the selling side having 292 decreasing codes. The green color is somewhat overwhelming in the VN30 basket with 18 increasing codes, 4 decreasing codes and 8 reference codes.
Market liquidity decreased compared to the trading session last week, with the matched trading volume of VN-Index reaching more than 609 million shares, equivalent to a value of more than 14.4 trillion VND. Regarding foreign transactions, this sector continued to return to net selling more than 308 billion VND on HOSE.
Regarding the level of influence, large-cap stocks such as VNM, GAS, VCB and TCB are the codes that have the most positive influence on the VN-Index with an increase of more than 3.9 points. On the contrary, HVN, SSI, GEE and PLX are the codes with the most negative impact but the impact is not significant.
The notable focus in this morning's session is PNJ. This stock rose well from the beginning of the session and soon showed off its purple color. Currently, PNJ is standing firmly at the ceiling price of 104,900 VND/share, this is the highest price ever, with sudden liquidity. One of the information that is considered to be the driving force for PNJ's acceleration is the data that the Company's debt/equity ratio at the end of the second quarter of 2024 dropped to a record low, only about 2.3%.
The trading session with an increase of 28.67 points and a liquidity of more than 23,000 billion VND on the HOSE floor last weekend can be considered a typical "momentum boom" session when both the score and transaction value were very high. strong. After that last session, many investors on forums are very worried about whether disbursement has been possible yet and what the upcoming developments will be when the market enters the "information silence" at the end of the reporting season. semi-annual report.
Many experts say that the Vietnamese stock market is entering a period that can be considered "favorable times". The State Bank recently moved to cut OMO interest rates and T-bill interest rates in the context of gradually decreasing exchange rate pressure. The second positive point is that the expectation that the FED will soon lower interest rates by the end of this year has triggered capital flows to emerging stock markets.
Along with that, experts assess that the inter-market context is not bad, the index cycle is in a positive phase and the second quarter profit growth of businesses on the floor is reaching investors' expectations. Internally, the business is gradually improving along with the stable macro situation, which is the factor that supports the market to maintain a good rhythm in the coming time.
The biggest resistance of the market today is that investor psychology is still unstable, concerns about geopolitical risks, foreign investors have not yet shown a reversal of net buying by net selling for the whole year 2024. The positive picture of the whole market still has dark colors that make investors still cautious and do not dare to disburse heavily.
However, from an overall perspective, there is still the view that there will be some short-term fluctuations but the general market will still gradually increase and the 1,300 mark can be conquered soon. next.
