Stock market on October 28: Spectacular reversal, VN-Index increased by nearly 60 points

The market today witnessed a sudden reversal of cash flow, the index which was in a pessimistic state all morning received new momentum, climbing straight from the bottom to close at the highest point of the session.

At the end of the trading session on October 28, VN-Index closed at 1,680.5 points, up 27.96 points, equivalent to +1.69%. But in reality, the index increased even more strongly when recovering from the lowest price of the session.

VN-Index performance on October 28

Today, the index recorded its lowest point of 1,621.52 points in the first minutes of the afternoon session after sinking below the reference point throughout the morning session. At this price, the index lost more than 31 points. While most investors had determined that today would continue to be a declining session as there was no breakthrough throughout this morning, immediately after falling more than 31 points, the index suddenly reversed, increased rapidly and brought the market from declining to increasing by more than 27 points. Thus, from the lowest point of the session, VN-Index has regained nearly 60 points.

This spectacular reversal is a credit to large-cap stocks. A series of reversing stocks brought the index back to life.

Today,FPT is a bright spot. FPT has increased in price for the third consecutive session and officially returned to the price range of over 100,000 VND/share. Liquidity increased sharply with a transaction value of over 2,100 billion VND and nearly double yesterday's session. Notably, foreign investors continuously disbursed into this technology code with the 6th consecutive net buying session. Today, foreign investors net bought up to 1,264 billion VND of FPT, marking a record net buying session of foreign investors in this stock code.

The sudden buying power pushed FPT to increase its price by 4.29% during the session and closed at 102,200 VND/share, being a large stock that maintained its growth momentum throughout the session and contributed greatly to the growth of the general index.

The market reversal today is clearly shown in the pillar stock VIC. This stock code even touched the floor price and was below the reference for most of the trading time and at times was the code that held down the index the most, but in just a short time, VIC reversed and returned to increase, closing at an increase of 2.85%, becoming the stock that contributed the most to the VN-Index with nearly 4 points.

Green dominates the market

Along with the technology and real estate groups, the banking group is also a bright spot leading the index today. A series of large stocks such as VPB, STB, TCB,VIB also suddenly increased strongly in the afternoon session despite the morning session being below reference or going sideways without breaking out. A series of banking stocks increased by more than 2% today, recording VIB - VPB - STB increasing by more than 4%, HDB increasing by 3.54%, TCB - TPB increasing by more than 2%. This rebound brought the banking group up 1.85% today.

The return of purchasing power to large-cap stocks is still the main driving force for the market. VN30 changed color quickly today. The breadth was at its most negative with 2 stocks hitting the floor, 16 stocks decreasing in price, then by the end of the day, the entire index basket only recorded PLX still in red price. Today, VN30 increased by 2.55% (+48.52 points), much stronger than the main index.

Although liquidity in the whole market has not changed much today, the bright spot from foreign investors cannot be denied. Foreign investors turned to net buying more than 1,536 billion VND today after 4 sessions of strong net selling. Not only net buying FPT, this group also net bought VRE, VPB, GEX... while net selling more than 397 billion VND of MBB.

By the end of the day, HoSE recorded 219 stocks increasing in price and 94 stocks decreasing in price, the green color spreading positively to many industry groups. A series of industry groups with good growth recorded retail, auto parts, construction materials, industrial services... In the securities group, the green color today also returned with a series of stocks increasing positively. The number of stocks increasing by 2-3% is quite a lot, from large to small stocks such as SSI, VDS, ORS, EVS, CTS, SHS... PSI today also increased by the ceiling of over 9.2%.

However, contrary to the industry, TCX continued to be under selling pressure. This stock went against the market, ending the session down 3.83% and valued at only VND43,900/share. During the session, this code even hovered near the floor price, at one point dropping to a record low of VND42,500/share. With this decline, TCX was the code that caused the general index to lose the most points, alongside VPL and NVL.

Source: https://baodautu.vn/chung-khoan-ngay-2810-dao-chieu-ngoan-muc-vn-index-tang-mot-mach-gan-60-diem-d424316.html