Oil and gas stocks become the focus of investment flows.
The market opened on a negative note as widespread selling pressure pushed the VN-Index well below the reference level, while capital flowed into the oil and gas sector.
At the opening of trading on the morning of July 9th, increased selling pressure caused the market to quickly shift into a correction phase, with red dominating the electronic board.
After losing the MA20 line, corresponding to the 1,842 point level, the VN-Index experienced a recovery but could not sustain it for long.
Despite briefly approaching the reference level, widespread profit-taking pressure and the weakening trend of large-cap stocks caused the index to quickly reverse and fall again. After more than an hour of trading, the number of declining stocks on the HOSE was more than twice the number of rising stocks, causing the VN-Index to lose nearly 10 points.
Amidst a backdrop of mostly declining sectors, oil and gas stocks emerged as the focal point, replacing fertilizer stocks as the market's leading driver of gains.
BSR briefly approached its ceiling price and is currently up 4.6%, leading the group in liquidity with 13.7 million shares traded. Similarly, PLX rose 4%, GAS increased 3.9%; PVT, PVS, and PVD all gained over 2%, while PVC and OIL recorded gains of over 5-6%.
At the close of this morning's trading session, the VN-Index fell 8.95 points to 1,844.75 points (-0.48%) compared to the previous session. Meanwhile, the UPCoM-Index increased by 128.38 points (+0.29%), equivalent to 0.37 points, and the HNX-Index increased by 306.63 points (+2.08%), equivalent to 6.24 points.
Market liquidity reached VND 6,818.39 billion, with 280,000 shares traded. Across the sector, 97 stocks rose, 202 fell, and 46 dropped to their reference price.
According to experts at AIS Securities Company, the VN-Index continues to record a slight recovery with more positive capital flows, indicating that market sentiment is gradually stabilizing.
The main support came from the Energy, Real Estate, and Retail sectors. Conversely, downward pressure was present in the Technology sector.
The market's next target will be to retest the 1,860-point resistance level (50-day moving average) to confirm whether the current short-term downtrend may be over.
Investors should proactively review and eliminate underperforming stocks, while prioritizing holdings of stocks with promising profit prospects during the second-quarter earnings reporting season.
According to experts at Asean Securities Company, the VN-Index is sending a neutral signal, closing at 1,854 points, between the MA20 and MA10 lines, with RSI and MFI indicators both anchored at 52 and 50 respectively. This suggests that the current recovery still lacks the momentum to establish a clear upward trend.
Although buyers held a slight advantage as the index closed near its daily high, the market still needs to test the reaction at the 1,870-1,880 point resistance zone before confirming a potential breakout.
Therefore, the dominant scenario in the next session is likely to be a tug-of-war within a narrow range before a clearer trend emerges towards the end of the day.
Given this context, short-term investors should maintain an average portfolio weighting, avoid chasing rallies, and focus on trading within the 1,850-1,880 point range. Simultaneously, prioritize stock groups with unique stories, such as state divestment, economic development resolutions, market upgrade roadmaps, or offshore cycles.
