Bank stocks will dominate the market.

The stock market rose from the start of the session as dozens of banking stocks and several large-cap stocks simultaneously increased in price. This bullish momentum continued throughout the morning session, pushing the VN Index towards the 1,290-1,300 point resistance level. Foreign investors also aligned with domestic investors, returning to net buying.

However, selling pressure emerged in the early afternoon, causing the market to gradually decline. The prices of many bank stocks fell into negative territory, and this trend spread to many other stocks.

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Notable declines in bank stocks include: TCB (-0.4%), STB (-1.6%), MSB (-1.5%), MBB (-0.3%), ACB (-0.2%), VIB (-0.5%), TPB (-0.8%),SHB (-0.4%)…

Some stock brokers say that recently, banking sector stocks have risen quite a bit. Therefore, in the past 2-3 trading sessions, short-term investors have sold off some stocks in this sector to take profits, significantly impacting the market trend.

However, VCBS Securities Company believes that the selling pressure on bank stocks and many other stocks is not yet too strong. Meanwhile, demand remains present, so the market is somewhat balanced.

As a result, on October 10th, the VN-Index still increased by 4.5 points, closing at 1,286 points.

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Given the current market conditions, VCBS Securities recommends that investors take advantage of price fluctuations to increase their holdings of stocks that have just entered an upward trend in the transportation, port, and oil and gas sectors, while also taking profits on some stocks that have reached their profit targets.

Source: https://nld.com.vn/chung-khoan-ngay-mai-11-10-giu-tru-de-keo-xa-co-phieu-196241010164544657.htm