Investors expect the stock market to have more surprises after today's session when Vingroup shares "explode" to the ceiling, helping the VN-Index regain green.
Contrary to the red color at the beginning of the trading session on August 27
The market gradually regained green in the afternoon session thanks to the efforts of many industry groups. The biggest bright spot was Vingroup (VIC) shares, which suddenly hit the ceiling, accompanied by explosive trading volume - the highest level in the past 6 months.
The breakthrough of real estate stocks, VIC hit the ceiling, followed by VHM and VRE also increasing sharply. Attracting cash flow into this group could be the key factor helping the market maintain green.
At the end of the session, VN-Index stopped at 1,280 points, up slightly by 0.54 points; HNX-Index decreased by -0.06 points, closing at 238.91 points.
The transaction value on the HOSE floor only reached over 14,400 billion VND, down 13,02% compared to the previous session. The negative point is still the net selling momentum of foreign investors with a value of over 256 billion VND on the HOSE floor, focusing on the group of stocks HPG, VPB...
Many investors expect VN-Index to improve
Many investors expect the VN-Index to improve after several sessions of accumulation around the 1,280 - 1,285 point range. Meanwhile, Mr. Vo Kim Phung, Head of Analysis Department of BETA Securities Company, said that although the VN-Index increased slightly, it did not reflect the true market sentiment when there were 235 stocks decreasing compared to 169 stocks increasing. This shows the caution of investors in the face of an unclear trend.
“The market may see a correction as the index has been increasing rapidly in the recent period, especially in trading sessions near the September 2 holiday. The VN-Index is showing caution, with selling pressure still high, especially for pillar stocks. Investors need to pay close attention to the development of cash flow differentiation,” said Mr. Phung.
SHS Securities Company believes that the market will gradually differentiate in the range of 1,280 points to 1,300 points and this is not an attractive price range because of the strong corrections in the past. If buying, the target will be leading stocks with good growth in Q2 business results and positive prospects for the end of the year.
Viewpoint of holding the portfolio with the expectation that VN-Index will conquer the psychological threshold of 1,300 points
On the contrary, liquidity today decreased, lower than the 20-session average, not much affecting the previously formed trend.
Analysts at Vietnam Construction Securities Company (CSI) still maintain their view of holding the portfolio with the expectation that the VN-Index will conquer the psychological threshold of 1,300 points and move towards the resistance level of 1,320 - 1,330 points.
“If the market declines, we need to patiently wait for the support level of 1,253 - 1,255 points to increase the proportion of profitable stocks as well as open new buying positions in stocks that have built an accumulation foundation and had a strong breakthrough in the previous week,” said a CSI expert.
Source: CafeF
