VN-Index approaches 1,270 point mark amid trade expectations

With the leadership of a series of bluechips, VN-Index easily surpassed the MA200 resistance level.

Positive signals from demand

From the beginning of the session, the market showed a widespread green color. In the morning, VN-Index fluctuated around the 1,260 point mark but could not surpass it because the cash flow was still quite cautious. However, in the afternoon session, the demand suddenly increased significantly, helping the index quickly surpass the 1,270 point mark and close the session at 1,269.8 points, up 19.43 points (+1.55%). The total transaction value reached nearly 19,000 billion VND, equivalent to more than 806 million shares exchanged. Although liquidity has not exploded, the consensus from the large-cap group was enough to pull the market up strongly.

This session of increase recorded the pioneering role of stocks in the VN30 basket. Of which, VIC (+6.95%) and GVR (+6.8%) impressed when hitting the ceiling. PLX, BCM, FPT , MSN also had strong increases of 3-6%. The VN30 basket had 28 stocks increasing, only 1 stock decreasing.

In addition, the real estate group also had an explosive trading session. Codes such as HHS (+6.99%), HQC (+6.8%), VPH, SJS, NTL, NBB all increased sharply by more than 3%. The news that Vinpearl was approved to list nearly 1.8 billion shares on HOSE continued to be a positive catalyst for the entire industry.

The industrial park group also attracted strong cash flow, typically the codes GVR, BCM, VGC (+6.7%), SZC (+4.7%), PHR (+4.3%), LHG, IJC, DPR all increased strongly by over 3%.

Meanwhile, oil and gas stocks witnessed impressive acceleration, with PVT hitting the ceiling, BSR , PLX, PVD, OIL, PVS… all maintaining green. The recovery of world oil prices in the recent session has further strengthened confidence in this group of stocks.

Investors monitor stock market developments

Notably, all banking stocks increased in price, led by codes such as MBB, CTG, VCB, BID, ACB , STB... The consensus in this industry group played an important role in strengthening the market's upward momentum.

In contrast to the gloomy performance in the morning session, the securities group made a strong comeback in the afternoon. Codes such as HCM, FTS, BSI, and VDS all increased by more than 3%. This could be a positive reaction to the KRX trading system, which is expected to gradually improve market efficiency.

VN-Index is approaching the "soft resistance" zone

Sharing with Banking Times, Mr. Han Huu Hau - Analyst of VPS Securities Company said: "Today's session shows that investor confidence is gradually returning, especially after the FED kept interest rates unchanged and expected positive results from the Vietnam - US trade negotiations. Although the cash flow has not yet changed dramatically, it has spread evenly, no longer focusing on a few individual codes."

However, Mr. Hau also warned investors not to be too optimistic too soon:

“VN-Index is approaching the soft resistance zone of 1,275-1,280 points. If it overcomes this zone with increased liquidity, the possibility of reaching the 1,300 mark is completely feasible in the short term.”

After many sessions of net selling, foreign investors suddenly turned to net buying more than 255 billion VND. The most bought codes include VIC (145 billion), MBB (nearly 120 billion), HPG (nearly 103 billion). This move shows that foreign investors' sentiment is improving, although not really sustainable.

While Asian stock indices fluctuated with NIKKEI 225 up 0.41%, KOSPI up 0.22%, TWSE, KLSE and STI down slightly; VN-Index stood out with an increase of more than 1.5%. This is a positive signal, reflecting the strong internal recovery of the domestic market.

The increase on May 8 is a testament to the market's resilience as investor sentiment improves and demand returns. The spread of cash flow, combined with positive developments from pillar stocks, real estate, banking and oil and gas, is creating a positive foundation for the VN-Index to approach the 1,300-point mark in the near future.

However, as experts recommend, maintaining investment discipline and choosing stocks with good fundamentals will be the key for investors to effectively take advantage of the current recovery period.

Source: https://thoibaonganhang.vn/vn-index-ap-sat-moc-1270-diem-giua-ky-vong-thuong-mai-163883.html