Will VN-Index reach 1,300 points by the end of the year?

(NLĐO) – The final two trading days of the VN-Index in 2024 are expected to reach the 1,300-point mark with a positive trend.

The stock market had a positive trading week, closing above 1,275 points on December 27th, accompanied by improved liquidity. Although there wasn't a strong or widespread breakout, the positive increase in the VN-Index, driven by strong trading in banking stocks, brought optimism to many investors.

At the end of the week, the VN-Index increased by 17.64 points (1.4%), closing at 1,275.14 points; the HNX Index increased by 2.06 points, closing at 229.13 points.

The banking sector was a prominent contributor to the increase, with a series of stocks rising sharply, including CTG, LPB, STB, TCB, MBB, etc. Meanwhile, the food and beverage sector was the one causing the market to decline, with several stocks falling sharply, such as VNM and SAB.

Stock groups that influenced the VN-Index last week

The total value of matched transactions on the VN-Index reached VND 62,234.87 billion, an increase of 18.02% compared to the previous week. Another highlight was the net buying by foreign investors, although not substantial, with a value of over VND 274 billion concentrated in SSI, STB, and CTG.

Regarding the trend for next week, Mr. Vo Kim Phung, Head of Analysis Department at BETA Securities Company, commented that the VN-Index is maintaining a positive trend. Next week, the market will have its last two trading days of the year before entering the holiday period and transitioning to the new year 2025. It is highly likely that the last two trading days of the year will see strong fluctuations, leaning towards a positive direction, with a probability of retesting the resistance zone of 1,290 - 1,300 points.

Stocks are expected to continue rising next week, heading towards the 1,300-point mark to close out 2024.

"During this period, investors should observe cautiously; avoid chasing stocks that show signs of overheating and lack a solid foundation. Maintain a reasonable cash allocation to take advantage of periods of volatility to accumulate shares of companies expected to have positive business results in Q4/2024 and a positive outlook in 2025," suggested Mr. Vo Kim Phung.

Experts at Pinetree Securities also predicted a positive trend in the coming days.

Accordingly, the VN-Index unexpectedly surged with the participation of large capital flows as the banking sector experienced a surge at the end of the week. The effect of closing out trading accounts at the end of the year helped the market expect further gains, especially with capital flowing into large-cap stocks. It is highly likely that the positive trend will continue, with the VN-Index retesting the 1,300-point level.

"However, the 1,300-point level is a fairly strong resistance zone, as the market has failed to break through it seven times in 2024, so investors should take advantage of upward movements to take profits and protect their gains," a Pinetree Securities expert stated.

Vietnam Construction Securities Company (CSI) believes that the VN-Index may continue its upward trend towards the resistance level of 1,316 - 1,327 points in the coming weeks, but strong fluctuations and volatility are unavoidable. The support level around 1,267 points is a point where investors can increase their holdings and open new buying positions in stocks.

Source: https://nld.com.vn/chung-khoan-tuan-toi-tu-30-12-den-3-1-vn-index-se-len-1300-diem-dip-cuoi-nam-196241228195636967.htm