FPT shares surge, VN-Index starts the week on a positive note.
Strong capital inflows right from the start of the week helped the VN-Index extend its gains after the previous day's correction.
Opening the trading session on the morning of August 3rd, the market started positively as green quickly spread across the board, helping the VN-Index regain its upward momentum after a slight correction at the end of last week's session.
Entering the continuous trading session, demand remained strong, providing momentum for many leading stock groups to simultaneously rise. Capital flowed heavily into the banking, securities, and steel sectors, helping the VN-Index extend its gains.
After one hour of trading, the index rose by more than 16 points, with the number of advancing stocks more than double the number of declining stocks across the market.
Besides the banking sector playing a major supporting role for the index, the technology duo FPT and FRT also became a focal point attracting capital flows. FPT at one point approached its ceiling price and is still up more than 5%, while FRT maintained its maximum upward trend, with no sellers and still having buy orders at the ceiling price.
Positive sentiment spread across the banking sector, with VCB (+1.52%), MBB (+3.78%), TCB (+1.73%), CTG (+2.44%), MSB (+0.31%), and STB (+0.98%). Similarly, in the financial services sector, VIX (+3.46%), VCI (+2.11%), SSI (+3.61%), SHS (+3.29%), and MBS (+2.78%) also saw gains.
The real estate sector showed divergence, with VIC (-0.05%), VHM (-0.14%), VRE (+1.41%), KDH (+2.58%), and VPI (+1.72%). Similarly, the food and beverage sector also saw divergence, with VNM (-0.99%), MSN (+2.42%), BAF (+2.02%), MCN (-2.34%), DBC (-0.31%), and HAG (+0.36%).
At the close of this morning's trading session, the VN-Index rose 20.17 points to 1,755.95 points (+1.16%) compared to the previous session. Similarly, the HNX-Index increased by 279.21 points (+2.93%), equivalent to 7.96 points, and the UPCoM-Index increased by 127.03 points (+0.35%), equivalent to 0.44 points.
Market liquidity reached VND 8,092.95 billion, with 314,000 shares traded. Across the sector, 207 stocks increased, 97 decreased, and 51 fell to their reference price.
According to experts at Asean Securities Company, in the last trading session of the week, the VN-Index was giving a neutral signal, closing at 1,736 points, between the MA10 and MA20 lines, amidst increased selling pressure towards the end of the session, reflecting a short-term trend leaning towards caution.
With the RSI at 44 and the MFI weakening to 34, the current upward momentum is not strong enough to create a clear reversal, making it likely that the market will continue to fluctuate within a narrow range at the beginning of the next session before a clearer trend is established.
Given this situation, short-term investors should maintain an average portfolio weighting, avoid chasing rallies, and focus on trading within the support zone of 1,730 - 1,740 points and the resistance zone of 1,750 - 1,760 points.
