The market has been positive since mid-afternoon when investors gathered large-cap stocks, helping VN-Index up nearly 30 points to 1,273 points.
The deep drop at the beginning of the week, according to many analysis groups, further confirmed that the bearish inertia had not shown signs of stopping and the support levels were not nearly reliable enough. Bottom fishing is not recommended, instead it is advised to stay out of the market and observe the market.
However, today’s market movements showed the opposite as investor sentiment improved and a lot of money was disbursed into large-cap stocks that just experienced a sharp drop.
VN-Index struggled around reference in the first few minutes, continuously reversed from up to down and vice versa. The index lost more points at the end of the morning, sometimes dropping more than 15 points but recovering gradually about half an hour before the order matching session to determine the closing price.
Investors took advantage of buying in banking and securities groups when information on business results in the second quarter was gradually announced. SSI was the only stock in the VN30 basket that increased all its range to 52,700 dong, followed by key stocks like HPG, MWG, HDB, and TPB which also increased by 4.5% or more.
VN30-Index was pulled up 37 points compared to reference, so VN-Index also kept going up in a few minutes. The index representing the Ho Chi Minh Stock Exchange closed at 1,273.29 points, up nearly 30 points compared to the reference. Top 10 stocks with the most positive impact on the market, led by HPG, VCB, VHM, GVR and BID, contributed more than 18 points to VN-Index.
Today, 281 stocks closed in the green. The number of stocks that fell was 94 stocks and 40 stocks that remained unchanged. The raw materials sector increased the most with 5.94%, followed by the financial group with 2.8%, industry 1.58% and real estate 1.21%.
Market liquidity was relatively low when only 568.6 million shares changed hands, worth about VND 17,880 billion. HPG led in terms of liquidity with VND 1,762 billion, nearly equal to the two following stocks, TCB and SSI combined.
Foreign investors had the second net selling session with a selling value of more than 2,070 billion dong, while buying 1,750 billion dong. HPG, VIC and NVL were the most sold stocks.