The VN-Index rose nearly 10 points, returning to the 1,280 point mark.

After a series of consecutive declines, the VN-Index maintained and strongly boosted its upward momentum in today's session, gaining nearly 10 points to return to the 1,280 point mark.

VN-Index saw its most positive increase in the past three weeks.

At the close of trading, the VN-Index ended at 1,281.9 points, up nearly 10 points (equivalent to 0.78%), marking its strongest gain in the past three weeks.

Immediately after the lunch break, the stock market saw strong buying pressure on blue-chip stocks, especially banks. On the HNX and UPCoM exchanges, the situation also turned positive towards the end of the session.

Total market liquidity reached over 18,700 billion VND, with the HOSE exchange alone accounting for over 17,000 billion VND. However, overall, the amount of money traded did not show significant improvement compared to previous sessions.

Today's upward momentum came largely from banking stocks, the "pillar" stocks in the VN30 group that led the market.

Leading the way wasACB (ACB, HOSE) with a strong increase of nearly 3%, followed by FPT (FPT, HOSE), HPG (Hoa Phat Steel, HOSE), the "duo" VHM (Vinhomes, HOSE) - VIC (Vingroup, HOSE), MSN (Masan, HOSE), MBB (MBBank, HOSE),...

Banking stocks and VN30 stocks led the market recovery (Photo: SSI iBoard)

Conversely, MWG (Mobile World Group, HOSE) had the most negative impact on the market, in addition to the emergence of HDB ( HDBank , HOSE), VNM (Vinamilk, HOSE), VCB (Vietcombank, HOSE),...

While an upward trend prevailed in most sectors, a clear divergence emerged in the securities and real estate sectors.

Foreign investors maintained their net selling position for the fourth consecutive session, although the selling pressure decreased somewhat, by nearly 40% compared to the previous session, with a total value of nearly 250 billion VND, concentrated in MWG (Mobile World Group, HOSE) at 194 billion VND and VPB ( VPBank , HOSE) at 284 billion VND.

Conversely, strong buying pressure was recorded at TCB (Techcombank, HOSE) with 197 billion VND and HPG (Hoa Phat Steel, HOSE) with 237 billion VND.

Notably, today's positive development comes despite the fact that the Vietnamese market has not yet been upgraded. Specifically, FTSE Russell announced its October 2024 market rating report, according to which Vietnam remains on the watchlist for an upgrade to Emerging Market Tier 2.

The market rallied positively, with green dominating, following news that the upgrade had not yet been approved.

Market upgrade expected to attract significant capital inflow.

As a long-time investor, Ms. Lan Chi (35 years old, Thanh Xuan District, Hanoi) said: "Based on my observations and experience, the market is going through its most difficult phase and is gradually recovering. The recent correction was also an opportunity to accumulate potential stocks, so even though it hasn't met the upgrade criteria yet, I'm still quite optimistic about the market. It's highly likely that the 1,300-point mark will be surpassed in the near future."

Sharing the same view, Ms. Minh Ngoc (33 years old, Cau Giay District, Hanoi) also said: "The upgrading process has essentially supported the flow of money into the Vietnamese stock market, so I still have high expectations for the market and have been trading regularly recently."

Regarding the upgrade, FTSE Russell emphasized that if Vietnam wants to achieve the 2025 target set by the Vietnamese Prime Minister, it is crucial to maintain the pace of change. Revised market rules need to be validated and widely communicated in the coming period, including: finalizing the necessary roles and responsibilities in the payment model, along with a roadmap and key milestones for implementation.

At the same time, FTSE Russell acknowledges the continued support of the Vietnamese Government for market reforms and appreciates the constructive relationship with the State Securities Commission, other market regulators, and the World Bank Group, which is supporting the broader market reform program.

The story of upgrading to emerging market status has generated much anticipation among analysts and investors regarding the prospect of new capital inflows into the market.

SSI Research estimates that capital inflows from ETFs could reach $1.7 billion, not including inflows from actively managed funds (FTSE Russell estimates total assets from actively managed funds to be five times greater than those from ETFs). According to this analysis department, stocks such as VNM, VHM, VIC, HPG, VCB, SSI, MSN, VND, DGC, VRE, and VCI could attract significant capital inflows as Vietnam is upgraded to emerging market status.

According to experts, the market is currently in an accumulation zone, which could be a good opportunity for investors to accumulate shares. Breaking above 1,300 points is only a matter of time. However, the market needs greater consensus during its upward movement and more widespread growth across leading stock groups such as Banking and Securities.

Source: https://phunuvietnam.vn/vn-index-tang-gan-10-diem-ve-lai-moc-1280-diem-20241009170338403.htm