VN-Index reaches 3-year high, Techcombank shares surge.

Following the previous correction, a cautious sentiment prevailed in the market on June 19th as pressure for further corrections returned, causing the main indices to fluctuate within a narrow range around the reference point. The continuous volatility reflects a lack of decisiveness from investors amidst numerous uncertainties, both domestic and international. In particular, the market's approach to a strong resistance level, coupled with the expiration of derivatives, led to a dominant defensive sentiment, resulting in a noticeable weakening of capital flows.

Although the market attempted a breakout at times, the demand was not strong enough to sustain the upward momentum, leading to a reversal and decline towards the end of the session. The decrease in liquidity also partly reflected the cautiousness of investors, as they were no longer keen to open new positions in the short term. In the afternoon session, trading became more positive, with some sectors performing well and helping the overall market gradually recover. In addition, several key stocks surged in price, contributing to pushing the VN-Index above the reference level.

At the close of trading, the VN-Index rose 5.21 points (0.39%) to 1,352.04 points. The HNX-Index fell 0.64 points (-0.28%) to 227.56 points. The UPCoM-Index decreased 0.44 points (0.44%) to 98.87 points. The market was highly mixed, with 312 stocks rising while 385 stocks fell. Across the entire market, 17 stocks hit their upper limit and 11 stocks hit their lower limit.

Top stocks with the strongest impact on the VN-Index.

Extending its upward trend, the VN-Index continued to set a new high in over three years. The upward momentum stemmed from positive spillover effects on large-cap stocks. Within the VN30 group, stocks such as TCB, VIC, GVR, CTG, GAS… were key factors contributing to pushing the VN-Index above the reference level. TCB, in particular, surged 3.66% to an all-time high of 34,000 VND per share, contributing the largest 1.96% increase to the VN-Index. VIC also rose 1.6%, contributing 1.24 points to the index.

Retail stocks also surprised today's trading session. DGW led the group, reaching its ceiling price of 43,850 VND per share. DGW's surge helped reverse the trend for stocks like PET and MWG. At the close, PET rose 2.3%, and MWG increased 0.5%. In addition, rubber stocks also saw positive movements. PHR closed at its ceiling price, DPR rose 3.5%, and GVR increased 3%.

Conversely, HPG, FPT, HVN, BSR,SHB … declined in price and were the biggest pressurers on the overall market. HPG fell 0.92%, taking away the most points from the VN-Index with 0.37 points. FPT fell 0.85%, also taking away 0.34 points from the VN-Index.

In the mid-cap and small-cap group, stocks such as NLG, DBC, CMG, NKG… were all in the red, which somewhat negatively affected investor sentiment.

Foreign investors sold a net of nearly 900 billion VND on June 19th.

Market liquidity decreased compared to the previous session, with the total trading value on HoSE reaching VND 18,732 billion, down 8%, of which matched order transactions decreased by 13% to VND 16,219 billion. The trading value on HNX and UPCoM reached VND 1,505 billion and VND 631 billion respectively.

Foreign investors continued to net sell 893 billion VND on the HoSE exchange, with the strongest net selling inFPT shares at 389 billion VND. VHM and STB followed with net selling values of 121 billion VND and 101 billion VND respectively. Conversely, DGW saw the strongest net buying with 63 billion VND. SSI also saw net buying of 61 billion VND.

According to experts from SSI Research, technically, the uptrend remains dominant on the VNIndex with the next target at the resistance zone of 1,360 - 1,390 points. Conversely, the 1,330 - 1,340 zone is expected to support the index during technical corrections, especially when a breakout occurs with narrowing liquidity and market breadth.

Source : https://baodautu.vn/vn-index-len-cao-nhat-3-nam-co-phieu-techcombank-but-pha-d308512.html