VN-Index closed the first week of May in the red, which stocks are worth investing in?

Red color still prevails

Ending Thursday’s session, the Dow Jones lost 1,063 points (equivalent to 3.12%). Investor sentiment on the US stock market also became more pessimistic. This sentiment also partly affected the Vietnamese stock market in today’s trading session (May 6).

Specifically, at the opening session, the main indexes on the stock market quickly “falled down”, the VN-Index plummeted more than 25 points. In which, VN30-Index also dropped quite strongly by nearly 27 points.

Red color completely dominated the VN30 basket with 30 discount codes. In which, MSN, SSI, BID or STB were the biggest losers in the basket with an average drop of nearly 3%.

Sellers are dominating all industry groups. Securities, banking, and real estate continued to be the sectors that had the most negative impact on the market.

However, by about 10:30, the market gradually recovered but the selling force continued to be present until the end of the morning session.

Closing the morning session, the VN-Index narrowed but still “dropped” 15.6 points to 1,345.08 points; HNX-Index fell 7.05 points, stopping at 351.7 points.

Market breadth ended the morning in favor of the sellers with 698 losers and 184 gainers. In the VN30 basket, red still dominated with 25 losers, 4 gainers and 1 standstill.

The trading volume of VN-Index recorded in the morning session reached more than 280 million units, with a value of nearly 8.4 trillion dong. HNX-Index recorded a trading volume of more than 31 million units, with a trading value of more than 760 billion dong.

Entering the afternoon session, VN-Index continued to fall back. At 1:15, this index is at 1,343.25, down 17.43 points. The trading value on the new floor “inched up” to 9,226.9 billion dong.

Demand is still weak

Commenting on the market, Mr. Tran Ba ​​Duy, Director of Investment Advisory (VPS Securities), said that the Dow Jones index (industrial average) fell more than 800 points (April 27) and the next session was closed. Today (May 6), the Dow Jones continued to drop more than 1,000 points, from this, testing the market showed that the selling pressure in these two sessions has decreased a lot compared to the period when the VN-Index fell from current peak 1,500 points down.

“The selling pressure of the market was strongest when the VN-Index dropped from 1,500 points to 1,300 points, while last Wednesday’s session (April 27) and today’s session (May 6) the selling pressure was even there. but no longer strong, the stocks that investors sold to cut losses were sold when the market fell deeply.

Therefore, in today’s session, the market will correct but not cause panic for investors, and the level of decline will not be large. However, the demand has not yet entered,” Mr. Duy analyzed.

Explaining this, the Director of Investment Advisory (VPS Securities) said that although the VN-Index has adjusted, the current demand for money is still very weak.

“The difficulty of the current market is that although the supply and sell is no longer strong, the demand is still weak. And currently, the cash flow is still directed to promising industries such as seaports, seafood, and insurance. … these industries are resisting the selling force and have a story”, Mr. Duy said.

For example, with the insurance industry, the story of the Fed’s interest rate hike will affect the increase in deposit rates in Vietnam. And insurance companies specialize in investing, investing in bonds…so when interest rates increase, the insurance industry will benefit, so insurance stocks still increase well even though the Fed raises interest rates.

Or with the seafood industry, pangasius stocks like Nam Viet, VHC… also benefit when pangasius prices remain high…

“In short, although the market is falling, there is still a divergence into the lines that are benefiting,” Mr. Duy said.

Forecasting the upcoming trading sessions, Mr. Tran Ba ​​Duy said, expecting the market to balance in the range of 1,300 – 1,400 points, the market will accumulate in this area. And the probability of the market dropping deeply to “punch the bottom” of 1,250 points will be low.

“However, in the process of VN-Index creating an equilibrium at 1,300 – 1,400 points, securities lines such as seaports, seafood, and insurance will continue to go up. , securities, steel, real estate… it will be difficult and must wait for large cash flows to enter the market to increase”, said Investment Consulting Director (VPS Securities).