Blue-chips recover strongly, VN-Index jumps nearly 28 points

The stock market on October 28 witnessed a spectacular reversal when large-cap stocks (blue-chips) led the VN-Index to increase sharply by nearly 28 points, erasing almost all of the "shocking" decline of the previous session. Notably, foreign investors, after many sessions of net selling, turned around to net buy again more than 1,200 billion VND, adding momentum to the strong recovery of the market.

Foreign investors return to "buy goods", the market reverses dramatically

Opening the morning session, the market continued to be covered in red as demand weakened. VN-Index at one point fell nearly 23 points after just over two hours of trading, mainly due to pressure from real estate stocks. The trio VHM, VIC, VRE simultaneously plunged, taking away nearly 17 points from the index.

However, the picture completely changed in the afternoon session. After just a few minutes of adjustment at the beginning of the hour, money started pouring into the leading group, helping the market to rebound quickly. At the close, VN-Index increased by 1.69%, equivalent to 27.96 points, to the highest level of the day, almost equaling the decrease of more than 30 points yesterday.

The main driving force for the strong recovery came from large-cap stocks in the VN30 basket. The entire basket increased compared to the morning session, with only PLX slightly down 0.29%. The VN30-Index increased by 2.55%, the extremely strong volatility compared to the morning session, down more than 1%.

VIC was the center of attention when it made a spectacular reversal, from a floor drop of -6.96% in the early afternoon, this stock was pulled back up to increase by 2.85%, equivalent to an increase of more than 10% compared to the bottom of the day. Codes in the same family such as VHM (+0.47%) and VRE (+1.94%) also recovered strongly, helping to significantly reduce pressure on the general index.

The banking group also contributed greatly to the increase when a series of stocks jumped strongly: VPB (+4.06%), TCB (+2.71%),VIB , STB, HDB, TPB all increased by more than 2%. Codes such as MBB (+0.84%) and CTG (+0.82%) also contributed to maintaining the positive trend.

In the real estate group, many codes recovered impressively such as DXG (+3.96%), DIG (+2.7%), KDH (+3.08%), TCH (+3.78%), VPI (+2.96%). Liquidity of this group improved significantly, showing that cash flow is returning to catch the bottom.

The group of securities stocks, which is a measure of market sentiment, also changed strongly. SSI increased by 3.02%, VND and VIX both increased by 3.23%, SHS increased by 3.9%, ORS increased by 4.07%, MBS increased by 2.73%... Investor sentiment has thus improved significantly.

Green spread widely when the entire HoSE floor had 219 stocks increasing, of which 132 stocks increased by more than 1%. Compared to the morning session with only 92 stocks increasing, this was a completely contrasting picture. Liquidity exploded in the group of stocks that increased sharply, accounting for more than 56% of the total matched value on the floor.

Meanwhile, the group of stocks with price reductions only had about 40 stocks down more than 1%, mostly with low liquidity. Notable stocks include TCX (-3.83%), NVL (-2.9%) and BSR (-1.33%).

After 4 consecutive sessions of net selling, foreign investors turned to net buying nearly 1,287 billion VND on HoSE, the highest level in many weeks. The total purchase value reached more than 3,000 billion VND, up 60% compared to the morning session.

FPT was the code that foreign investors bought the most (+1,264.9 billion VND net), followed by VRE (+235.6 billion), VPB (+143 billion), GEX (+93.9 billion), CII (+92 billion), TCB (+78.5 billion) and MWG (+71.4 billion). On the other hand, MBB (-397 billion) and SSI (-102 billion) were the two codes that were sold the most.

Notably, VJC airline stock continued to impress when it hit the ceiling price of VND187,500/share, raising the increase in the past month to more than 40%, despite major fluctuations in the general market.

The liquidity of the VN30 basket reached nearly VND9,326 billion, up more than 17% compared to the morning, accounting for 62.5% of the total HoSE matching value, the highest level in the last 16 sessions. Stocks with liquidity of over VND1,000 billion such as FPT, VHM, SSI, MBB, SHB, VIC all increased sharply in price.

Across the market, all three exchanges recorded 421 gainers compared to about 250 losers. Of which, 13/23 industry groups increased points, notably the banking group (+1.86%) and software and services thanks to FPT increasing by more than 4%.

The reversal session on October 28 not only helped VN-Index recover almost all of the previous session's decline but also sent a positive signal that smart money is returning. The strong recovery of leading stocks, especially blue-chips and strong net foreign buying, is the basis for expecting the market to enter a more sustainable recovery in the coming sessions.

“The extremely wide fluctuation range in today's session shows a great opportunity for swing traders and the return of active cash flow,” said a market expert.

VN-Index ended the session in brilliant green, concluding a dramatic trading day, when the "reverse copy" of the morning wrote a story of a spectacular reversal of the Vietnamese stock market.

Source: https://thoibaonganhang.vn/blue-chips-hoi-phuc-manh-vn-index-bat-tang-gan-28-diem-172664.html