With a commitment to lowering interest rates, the banking sector saw widespread gains.
The market showed positive signs early on with widespread gains, and the banking sector, which has a large weighting, accelerated its performance, raising expectations that the VN-Index would advance to higher levels.
Opening the trading session on the morning of April 10th, investor sentiment was more positive, with confident buy orders entering the market and widespread green across the electronic board, helping the VN-Index surge by 20-25 points and reach 1,760 points after more than an hour of trading.
The focus is on the banking sector stocks, which, although not yet experiencing a surge in points, are currently the group attracting the most trading activity and have the highest trading volume on the exchange.
The positive trend likely stems from the news that 46 banks committed to reducing deposit and lending interest rates immediately after a meeting with the Governor of the State Bank of Vietnam on the afternoon of April 9th.
At the close of this morning's trading session, the banking sector saw gains with MBB (+1.51%), TCB (+4.05%), STB (+1.85%), MSB (+5.79%), EIB (+4.65%), VPB (+1.85%), BID (+1.23%), and HDB (+1.54%). Similarly, the oil and gas sector also saw gains with BSR (+4.4%), PVS (+3.73%), PLX (+3.16%), PVD (+2.31%), OIL (+2.82%), PVC (+1.82%), and TOS (+1.3%).
In the financial services group, VIX (+0.28%), SSI (+0.52%), VCI (+0.71%), HCM (+0.2%), TCX (+0.39%), and EVF (+0.3%) all saw gains. The chemical group included DGC (+0.38%), DCM (+3.33%), DPM (+1.58%), GVR (+0.91%), DDV (+0.72%), and VTZ (+0.5%).
The food and beverage group saw gains in VNM (+2.27%), VHC (+1%), MSN (+0.13%), DBC (+0.65%), and SAB (+1.2%). The real estate group witnessed gains in NVL (+0.6%), VIC (+2.01%), KDH (+0.19%), and DIG (+0.69%).
Industrial goods and services also saw strong gains, with VSC (+1.61%), PVT (+2.53%), GEX (+0.74%), GEE (+0.26%), and VOS (+1.96%).
The VN-Index saw a gain of 17.57 points, reaching 1,754.25 points (+1.01%) compared to the previous session. Similarly, the UPCoM-Index increased by 128.22 points (+0.56%), equivalent to 0.72 points, and the HNX-Index increased by 251.56 points (+0.23%), equivalent to 0.28 points.
Market liquidity reached VND 11,750.546 billion with over 454,000 shares traded. Within the VN30 group, 6 stocks declined, 22 increased, and 2 fell below the reference price.
According to experts from Vietcombank Securities Company.,The VN-Index closed the trading session on April 9th down nearly 20 points after returning to the resistance level of 1,750 points.
On the daily chart, the general index is moving within the Bollinger Bands, fluctuating around the resistance level of 1,750 points. The +/-DI and ADX lines are oscillating, indicating that the tug-of-war will continue in the short term, with the goal of testing momentum in the 1,730 - 1,750 point area.
On the hourly chart, the MFI indicator is trending downwards from its highs, and the RSI indicator is giving a similar signal, further reinforcing the view that the 1,750-point resistance level will be tested in the next session.
Meanwhile, experts from ACB Securities Company believe that the correction is mainly localized, concentrated in the Vingroup group and banking sector stocks, while many other sectors maintain relative stability.
During today's trading sessions, the VN-Index is likely to experience strong fluctuations around the 1,750 point level in order to re-test the supply-demand balance.
If the index successfully breaks through this price range and liquidity continues to remain high, the medium-term uptrend will be strengthened, thereby opening up room to move towards the expected peak around 1,900 points.
