Stocks surpass 1,300 points, highest in 8 months

Cash flow was hesitant at times when the VN-Index reached the 1,300-point mark, but thanks to the positive response of securities stocks, banks and especially steel stocks, the VN-Index convincingly conquered this resistance level. The VN-Index reached its highest level in the past 8 months.

Today's trading session (February 24) brought a lot of emotions to investors. The trading market was active from the beginning of the session with the positive participation of money flowing into the group. Steel stocks. A series of steel stocks such as HPG, TLH, VGS, TVN… all increased sharply by 5-7% compared to the previous session, especially TLH stock which soon increased to the ceiling.

HPG shares of Hoa Phat Group alone traded 45 million shares in just 30 minutes of trading on the first session of the week, worth more than VND1,280 billion.

The rise of steel stocks This happened after the Ministry of Industry and Trade issued a decision to apply temporary anti-dumping tax on some hot-rolled steel (HRC) products originating from China and India.

At one point, the VN-Index reached the 1,300-point mark. However, investor sentiment was not yet decisive enough to overcome this important resistance level. In the following trading hours, massive sell orders were pushed onto the board, causing the index to quickly fall below this mark. The VN-Index even turned red as sellers rushed to sell off their stocks.

In addition to steel stocks, stock prices today increased sharply.

The surprise happened at nearly 2:00 p.m., the demand suddenly increased sharply, especially after collecting steel stocks, the cash flow came. Securities stocks. With more than 3,160 billion VND poured into this group of stocks, a series of codes have turned green. The whole industry has 28 codes increasing and only 2 codes decreasing, in which large codes such as SSI, VND, VIX, HCM, SHS, VCI, MBS... all increased significantly.

This helps investors feel confident and bold enough to continue investing. Thanks to that, insurance stocks, Banking, food and beverage all posted positive gains.

The VN-30 group of stocks today also became the driving force to help the market successfully conquer the 1,300 point mark when there were 21 stocks increasing and only 6 stocks decreasing; 3 stocks remaining unchanged.

In addition to the "hero" HPG, codes such as VNM, BID, CTG, HDB, REE, GEE... contributed positively to the index. On the contrary,FPT , FRT, HVN, VTP, BCM... are codes that are still under selling pressure but the impact is not too significant.

At the end of the trading session, VN-Index increased by 7.8 points to 1,304.5 points; HNX-Index increased by 0.9 points to 238.4 points; Upcom decreased by 0.4 points to 100.2 points. The market breadth was quite balanced with 377 stocks increasing on the buying side and 373 stocks decreasing on the selling side.

Foreign investors still sold a net 266.8 billion VND today, but that is not important when domestic cash flow "balanced" it all, reflected in significantly improved liquidity. The entire market reached a transaction value of about 23,300 billion VND, an increase of more than 4,000 billion VND compared to the average level last week.

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