VN-Index increased strongly

VTV.vn - The Vietnamese stock market on November 17 opened with green spreading and maintained throughout the session.

Closing session on November 17, VN-Index increased 18.96 points to 1,654.42 points

The stock market opened the new trading week with a widespread green color, the focus is still on bluechip stocks. VIC increased by more than 3% this morning while many other bank stocks such as MBB, VPB andFPT technology increased by more than 1%.

Industrial real estate stocks also attracted attention with many representatives increasing in price such as BCM, GVR, SIP or IDC by about 1-3%. This development probably came from expectations of progress in the Vietnam-US trade negotiations.

However, many export stocks on the floor still traded relatively slowly, ANV increased by nearly 2%, VHC, PAN or TNG only increased slightly.

In a newly published report, FiinGroup stated that the P/E ratio of the entire market is currently at 14.2 times, down 13.7% compared to the three-year peak (16.5 times) set in mid-October. This decrease is mainly due to the downward adjustment of stock prices, while corporate profits increase.

By industry group, the P/E of the non-financial group is at 19.2 times, which is at a historical high. However, if excluding the stocks of Vingroup and Gelex - two groups with outstanding price increases - the P/E of the remaining non-financial group is only about 14.2 times. This level is close to the 5-year bottom and is a rare level since 2020.

Compared to the five-year average, some cyclical sectors such as construction, oil and gas equipment, textiles, seafood, chemicals and insurance are currently trading at lower valuations.

In contrast to the cyclical group, the real estate, food and information technology sectors are trading at P/Es higher than the 5-year average, while short-term profit prospects are difficult to break out, increasing the risk of correction.

In the real estate industry, the P/E of the group outside Vingroup (VIC, VHM, VRE, VEF) is currently at 30.4 times, higher than the 24.7 times of the whole industry. The reason is that the stock price of this group has increased by 80% since the "tariff event" in early April 2025, while the basic profit is still low. This shows that the valuation of the real estate industry is not cheap.

Banking, real estate and steel groups help VN-Index increase nearly 19 points

At the end of the session on November 17, VN-Index increased by 18.96 points to 1,654.42 points, with a trading volume of nearly 751 million shares, equivalent to more than VND 21,706 billion. The entire floor had 227 stocks increasing, 86 stocks decreasing and 50 stocks remaining unchanged.

HNX-Index increased by 1.08 points to 268.69 points, trading volume reached more than 77.8 million shares, equivalent to more than VND 1,736.5 billion, with 98 codes increasing, 53 codes decreasing and 57 codes remaining unchanged.

UPCOM-Index increased 0.57 points to 120.66 points, trading volume was more than 44.6 million shares, equivalent to 785.6 billion VND, with 155 codes increasing, 90 codes decreasing and 81 codes remaining unchanged.

The VN30 basket recorded 28 gainers and only 2 losers. The banking group led the increase with 23 gainers, only 2 losers and 2 unchanged. Green also spread across the securities, real estate and steel groups, but the increase remained at an average level.

Investor sentiment has shifted from cautious to optimistic, with cash flow spreading to pillar groups, cyclical sectors and stocks benefiting from the macro economy. Liquidity has increased compared to the average of the last 5 sessions, showing that active demand has returned, supporting the current uptrend.

It can be seen that banking stocks led the increase today with VCB (up 0.33%), BID (up 1.13%), CTG (up 0.62%), MBB (up 1.64%), ACB (up 1.18%), TPB (up 1.84%), HDB (up 0.67%). Strong cash flow helped this group maintain the increase, attracting institutional and self-trading sectors, especially in low-priced base stocks.

In the real estate group, DIG (up 4.4%), NVL (up 6.71%), DXG (up 2.08%), CEO (up 2.71%), VHM (up 2.17%), PDR (up 3.83%), HDG (up 2.75%). Strong cash flow into small and medium-cap stocks, confidence returns to the real estate hunting group, forecast to continue leading the short-term wave.

Securities stocks benefited from increased liquidity: VND (up 1.27%), SSI (up 1.29%), HCM (up 1.55%), VCI (up 1.56%), FTS (up 1.19%). Cash flow returned to the securities group, reflecting positive signals from the derivatives market and liquidity.

Steel stocks attracted cash flow, thanks to which HPG (up 1.49%), HSG (up 0.88%), NKG (up 0.97%), VGS (up 3.72%), SMC (up 2.64%). The steel group recovered thanks to expectations of public investment and year-end production, leading the technical wave with a stable accumulated price base.

Logistics stocks increased in price, with GMD (up 1.76%), HAH (up 1.54%), VSC (up 2.25%), PVT (up 1.06%), GEX (up 0.89%). Cash flow spread to maritime transport and energy, reinforcing the medium-term uptrend.

Analysts believe that the market is entering a medium-term uptrend when the index surpasses the resistance of 1,650 points. Cash flow is clearly spreading in banking, real estate, steel and securities - the four main groups contributing to the uptrend. Liquidity is stable, foreign investors continue to net buy slightly, supporting positive sentiment. Short-term trend: gradually increasing, sustainable, there may be slight fluctuations around 1,660 points. It is forecasted that on November 18, the main trend will be a slight increase, testing the 1,660 point area. The fluctuation range is 1,645 - 1,665 points.

Source: https://vtv.vn/vn-index-tang-manh-100251117182226737.htm