The Vietnamese stock market experienced a volatile trading week with 3 sessions of increase and 2 sessions of decrease. After a positive start, the VN-Index faced profit-taking pressure and correction in the following sessions.
The trading week ended with the sharpest decline since August 2023, VN-Index fell 21.1 points with selling pressure mainly focused on large-cap stocks that have increased sharply recently.
Due to strong fluctuations in the last sessions of the week, at the end of the trading week of March 4-8, VN-Index decreased by 10.88 points, equivalent to 0.9% compared to the previous week to 1,247.4 points.
Last week, BID decreased by 3.4%, VCB decreased by 2.3%, VHM decreased by 3.2%, which were large-cap stocks that dragged the market down. On the contrary, the index's recovery was led by MSN increasing by 11.4%, BCM increasing by 9% and GAS increasing by 2.5%, helping to curb the market's sell-off. In addition, the group of small and medium-sized stocks was also a bright spot in the market this week with some stocks increasing strongly.
Domestic cash flow still maintains interest in the market, focusing on mid- and small-cap stocks. Liquidity continues to improve with trading value on the three exchanges reaching VND30,187 billion/session, up 15.9% compared to last week.
Foreign investors returned to net selling on all three exchanges, mainly on HoSE with a value of VND981.4 billion, while last week they net bought VND108.4 billion. In total, foreign investors net sold VND964 billion on all three exchanges.
VN-Index performance week 4 - 8/3 (Source: FireAnt).
Giving advice for the new trading week, Mr. Dinh Quang Hinh - Head of Macro and Market Strategy Department, VNDIRECT Securities Company, said that investors should not panic and sell off stocks even though they have gone through a strong correction session.
In fact, the market's uptrend has not been broken yet as the VN-Index is still trading above the MA20 line. In addition, concerns about exchange rates and liquidity in the interbank market have shown signs of easing.
Notably, after surpassing the 24,700 VND to 1 USD zone, the interbank USD/VND exchange rate gradually retreated to the 24,650 VND zone in the weekend session. Therefore, market sentiment may soon stabilize again.
Investors should carefully observe demand at the support zone of 1,230 points (+/10 points). If this zone is maintained, the market's uptrend will be preserved and cash flow can rotate to groups of stocks that have accumulated recently such as steel, securities, real estate and some mid-cap stocks.
Meanwhile, Ms. Nguyen Phuong Nga - Analyst of VietcomBank Securities Company said that after a long period of increase and with the unclear trend after approaching the old peak, investors' psychology became more cautious and led to short-term profit-taking pressure.
On the daily chart, VN-Index is entering a correction phase after a long period of increasing points. However, the main trend of the market is still increasing in the medium term and strong correction sessions are necessary for VN-Index to continue moving towards higher areas.
On the hourly chart, the RSI and MACD indicators have gradually moved down to the oversold zone, so VN-Index will soon have recovery sessions.
Therefore, this expert recommends that investors consider and take advantage of strong fluctuations to disburse to buy stocks in support zones as soon as the market shows signs of active buying again. Some notable stock groups in the coming time will be industry groups such as banking, securities and retail ...
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