The VN-Index marked its third consecutive increase, consolidating above the 1,122.46 point mark, up 6.44 points from the previous session; HNX increased by 3.83 points to 431.08 points while Upcom increased by 0.88 points to 230.25 points. Market liquidity continued to remain high on all three exchanges, and on the HOSE exchange alone, the transaction value exceeded VND 17,430 billion.
According to analysis by BETA Securities Company, the return of demand in the session on June 13 helped the main indices trade relatively well; the buying cash flow was quickly absorbed and helped maintain the upward momentum until the end of the session. The market breadth on the HOSE floor recorded 233 stocks increasing compared to 154 stocks decreasing.
Banking, real estate and basic resources are the groups that have contributed the most to the overall market growth with stocks such as VCB, VHM, BID, VIC, HPG, NVL... On the contrary, the sudden selling pressure at DGC, VPB, VGC... has somewhat narrowed the overall market growth but not significantly.
The VN-Index today also closed at its highest point since October 2022.
Stock market marks 3rd consecutive increase, many stocks continue strong growth
Mr. Tran Hoang Son, Director of Market Strategy, VPBank Securities (VPBankS), commented that the market had its third consecutive increase with the increase supported by liquidity. Notably, cash flow is still circulating to find opportunities in the industry groups with small and medium capitalization while the group of Bluechips stocks is still under pressure to take profits and differentiate.
Currently, the VN30 bluechips group is still lower than the January 2023 peak, while the mid- and small-cap stocks group has far exceeded this level.
"Investors should consider taking partial profits, restructuring their portfolios, prioritizing holdings or increasing the proportion of groups that attract strong money such as real estate, stocks, steel..." - Mr. Tran Hoang Son said.
Why do penny stocks continuously attract cash flow with many sessions of ceiling price increase such as TTF, ITA, SJF, FIT, HID, HVX, BKG...?
Mr. Nguyen The Minh, Director of individual customer analysis, Yuanta Vietnam Securities Company, commented that despite poor business results, penny stocks in the past often tended to run "at the top of the wave" when the general market began to recover.
At the same time, the cash flow of individual investors often favors penny stocks because of their small capitalization, rapid growth, and in the past, many stocks in this group increased dramatically, bringing large profits to investors. Even with the expectation that the VN-Index will recover strongly in the second half of the year, penny stocks will continue to rise. This explains why small and retail investors favor this stock segment.
"However, hot money has been pouring into penny stocks recently and may shift to other stocks with better profit expectations. The VN-Index is also heading towards the 1,125-point resistance zone, so investors should consider disbursing new funds into this group of stocks to avoid short-term risks," said Mr. Nguyen The Minh.
Commenting on the general market on June 14, Yuanta Vietnam Securities Company said that the market may continue to increase and the VN-Index may experience a correction when approaching the resistance level of 1,125 points in the next session. At the same time, the market is still in a period of strong fluctuations in a positive direction, showing that the short-term uptrend is still clear, but if the VNmidcaps and VNsmallcaps indices correct in the next session, short-term risks may increase in these two groups of stocks.
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