Friday, July 1, 2022 12:43:01 PM - Markets open
VN-INDEX 1,177.30 -20.30/-1.70%
HNX-INDEX 270.51 -7.17/-2.58%
UPCOM-INDEX 86.83 -1.75/-1.98%
Market uptrend expected to continue this week
Vietnam News - 10/18/2021 2:56:44 PM
 (0 ratings. You must sign in to rate.)
Even though the VN-Index has not yet surpassed the psychological level of 1,400 points, the market was still considered positive last week. The uptrend reappeared in many stock groups, with increases in liquidity.
Analysts from securities companies are quite optimistic about the market this week as their expectations on rallies have not changed.
On the Hồ Chí Minh Stock Exchange (HoSE), the market benchmark VN-Index closed last week at 1,392.7 points, up 0.06 per cent, while the HNX-Index on the Hà Nội Stock Exchange (HNX) was stable at 384.84 points. 
Both benchmarks recorded a weekly gain, with the VN-Index up 1.45 per cent and HNX-Index up 3.47 per cent. 
The liquidity rose compared to the previous week and was higher than the 20-day moving average, with about VNĐ24.1 trillion (US$1.1 billion) traded per session on the two exchanges.
For the whole week, the trading value on HOSE climbed by 8.5 per to nearly VNĐ108 trillion, equivalent to a trading volume of 3.6 billion shares, up 9.8 per cent. Meanwhile, the trading value on the HNX dropped by 3.1 per cent to VNĐ12.81 trillion, with a decrease of 7.3 per cent in volume to 564 million shares.
Vietcombank Securities Company (VCBS) said that the VN-Index recorded a positive week after successfully surpassing the resistance level of 1,380 points while the trading volume of the week remained at a high level. The index's gaining momentum was led by bank and financial stocks, and large-cap stocks like Hoà Phát (HPG), Vinhomes (VHM), Vingroup (VIC), and Vincome Retail (VRE).
After surging above 1,390 points in the first session of last week, the index moved sideways in a tight range around this level for the rest of the week due to strong and persistent short-term profit-taking pressure. 
Even though it failed to break over the psychological level of 1,400 points, the market benchmark showed more positive signals with a slow but firm rally in each session, along with large trading volumes.
However, many large-cap stocks, which have recorded outstanding gains compared to the general index recently, have not yet exited the correction trend after skyrocketing.
VCBS believes that the market will continue to witness division between stock groups, and opportunities are seen in both large-caps and penny stocks.
"Investors should diversify their portfolios more during this period, when there is still no industry or stock group leading the market,” VCBS recommended. 
According to VCBS, the sideways trend of the VN-Index is expected to continue this week, while cash flows will gradually shift to stocks with positive business results in the fourth quarter of 2021 and benefiting from easing and removing social distancing measures. It includes fertilisers, chemicals, electricity, oil and gas stocks and thereby opens doors for "surfing" for short-term investors.
Meanwhile, MB Securities JSC (MBS) said that the country’s stock market ended the week with gains, but still has not surpassed the psychological resistance of 1,400 points. The liquidity last week was also more positive than the previous week, but the cash flow was active in small and medium stocks. Both groups have maintained their upward momentum and closed at historical highs.
Technically, the market’s uptrend has not changed, and investors are paying more attention to specific stocks than looking at the index as business results are being released.
On the market, most sectors recorded growth in the past week. Of which, materials group rose the most, up 3.6 per cent in market capitalisation, supported by key stocks like HPG up 2.9 per cent, Hoa Sen Group (HSG) up 4.4 per cent, and Nam Kim Group (NKG) up 7.6 per cent.
It was followed by bank stocks with an increase of 2.2 per cent in market capitalisation. Stock with outstanding performance in the group were BIDV (BID), Asia Commercial Joint Stock Bank (ACB), MBBank (MBB) and Techcombank (TCB). VNS
Read original article here
Newer News
29/06 Shares extend gains, bolstered by bank and energy sectors
25/06 Banking shares plummet to attractive prices
15/06 Pharmaceutical industry less affected in pandemic
11/06 Ministry of Finance to get privately-placed bonds back on track
10/06 VN-Index treads water as large-cap stocks divide
08/06 Legal framework for securities, corporate bond investment, business strengthened: SBV Governor
04/06 Shares drop on bank, securities stocks
04/06 Interest rate support package has little effect on stock market
31/05 Shares make gains on banking, airline stocks
30/05 Market likely to enter recovery wave: experts
Older News
15/10 Large-cap stocks extend losses, VN-Index falls for 2nd day
13/10 Indices gain on back of some pillar stocks
12/10 Sugar stocks expected to benefit from trade remedies
11/10 Share to move positively this week, Q3 results announced soon
08/10 Fed's tapering will not affect Việt Nam's stock market
07/10 Market rises for third day in a row
05/10 Shares end higher thanks to oil and seafood stocks
04/10 Market expected to continue downtrend this week
30/09 Energy stocks benefit from higher oil prices
29/09 Shares fall slightly on low liquidity
Newsletter Signup
Top Stories
Vietnam’s CPI up 2.44% in six months
HPG: Hoa Phat wants to invest big in two infrastructure projects
Legal framework for securities, corporate bond investment, business strengthened: SBV Governor
Steel prices cool down as input costs drop
Why the stock market sell-off when VN’s economy is strong?
Market Update
Last updated at 12:35:00 PM
VN-INDEX 1,177.30 -20.30/-1.70%
Real-time chart
Top 5 Actives
Top 5 Gainers
Top 5 Losers
My Favorite Quotes
Your most recently viewed tickers will automatically show up here if you type a ticker in the Get Quotes box on the top of the page.
Company Research
Type in the symbol above for thorough background information, key statistics and financial information.
Stock Sectors
We continuously improve our services, here are the latest updates...
Allow you to monitor a customised group of securities. You can set up multiple Portfolios to help you better manage your investments.
Trigger Alerts
Get up-to-date alerts delivered directly to your email address.
Stock Screener
Allow you to filter the market and find exactly what sort of company you are looking for.
Live Terminal
Get instant access to FREE REAL-TIME streaming quotes for hundreds of stocks from HOSE, HNX and UPCOM exchanges.