Stocks reversed up 24 points

The deep drop at the beginning of the week brought the VN-Index to close to the old bottom of 1,261 points, causing many analysts to worry that the market would continue to correct sharply, breaking the 1,200 point mark. Most of the analysis reports before today’s session recommend that investors stay out of the market and limit disbursement even though many stocks have attractively discounted to wait for the market to find a balance trading point.

At the beginning of the morning session, the sell-at-all price sentiment was activated while the buyers were cautious, causing the VN-Index to drop quickly. The index representing the Ho Chi Minh Stock Exchange sometimes lost 36 points, down to 1,233 points – the lowest price range since April 2021 – when the red color covered with 380 stocks trading below reference. A series of small-cap stocks fell to their full range, with no buyers.

The selling pressure lasted until the middle of the afternoon session but the level of tension gradually decreased. The bottom-fishing cash flow appeared and focused on large-cap stocks, helping VN-Index narrow its dropping range. At 14:10, the index returned to reference and then accelerated up according to the demand.

VN-Index closed the session at 1,293.56 points, up nearly 24 points, which was the strongest increase in the past two weeks and broke the chain of two consecutive declines. The index representing the VN30 basket gained more than 31 points with 28 codes closing above reference.

Among the 10 stocks that contributed the most to the VN-Index, there were 9 large-cap codes, BCM is the only case that is not in the VN30 basket. The banking group has four names in this list: VCB, BID, VPB, MBB. The rest is divided equally among real estate, oil and gas, technology, and steel groups.

Not only VN-Index reversed suddenly, but the market also recorded a series of stocks with unexpected movements. DIG, the stock ranked second in terms of trading value, from touching the floor at 46,900 dong in the morning session, to closing up 5.2% to 53,000 dong. DXG, HAH and stocks of the FLC family such as FLC, ROS, KLF, ART also had similar status, in which many stocks had no sellers at the close.

Market liquidity is approximately 17,790 billion dong. VN30 basket contributed more than 6,800 billion VND of this. HPG is still at the top in terms of liquidity with 773 billion dong, then DIG, DPM, GEX and VPB fluctuate from 520-680 billion dong.

Foreign investors continue to aggressively gather goods. This group disbursed nearly 2,200 billion dong, focusing on large-cap stocks and fund certificates while selling 1,450 billion dong. This is the strongest net buying session since the beginning of this month.

Eastern