Bank stocks rallied, VN-Index recovered into positive territory.
The rebound of oil and gas stocks, along with the positive performance of the banking sector, helped the VN-Index recover and turn green.
Opening the trading session on the morning of May 4th, the market was quite cautious after a long holiday period, with the VN-Index recovering into positive territory thanks to the strong performance of banking stocks.
In particular, state-owned bank stocks remain the main driving force supporting the market's upward trend.
The market's focus is on the oil and gas sector, which, after a long period of stagnation, is now surging. Specifically, PLX briefly hit its ceiling price and is currently up around 6%, GAS is up 3.5%, and notably, BSR is currently up 7%.
Meanwhile, among small and medium-sized stocks, NVL unexpectedly experienced a sell-off and quickly fell to its floor price.
At the close of this morning's trading session, the banking sector saw gains including VCB (+1%), CTG (+1.14%), MBB (+0.77%), BID (+1.75%), and VPB (+2.08%). Similarly, the oil and gas sector saw BSR (+6.99%) hit the ceiling price, along with PLX (+5.52%), PVS (+3.16%), PVD (+2.74%), OIL (+5.04%), and PVC (+4.08%).
Similarly, in the chemical group, GVR (+1.93%), BFC (+4.73%), DPR (+2.18%), AAA (+1.64%), and PHR (+1.3%) were positive. In the financial services group, SSI (+0.9%), VIX (+0.9%), VCI (+0.57%), SHS (+1.18%), VCK (+0.29%), and VND (+1.24%) were also high.
In the real estate sector, there was divergence as VIC (-1.64%), VHM (-0.14%), VRE (+4.02%), CEO (+0.56%), and NVL (-6.83%) all hit their floor prices.
The VN-Index recovered by 1.56 points, reaching 1,855.66 points (+0.08%) compared to the previous session. Similarly, the UPCoM-Index increased by 127.78 points (+0.23%), equivalent to 0.29 points. Meanwhile, the HNX-Index decreased by 249.71 points (-0.38%), equivalent to 0.95 points.
Market liquidity this morning reached VND 9,712.374 billion, with 366,000 shares traded. Across the sector, 179 stocks rose, including 8 that hit the ceiling price, 119 fell, and 60 declined to the reference price.
According to experts at Kien Thiet Vietnam Securities Company, the VN-Index closed lower on the last trading day of April. The market decline was mainly due to corrections in the VinGroup stocks. Although liquidity improved compared to the previous session, it remained low, with the trading volume still 14.6% lower than the 20-day average.
The current overall market trend is heavily dominated by large-cap stocks, and there is a possibility of a slight correction after the recent strong rally in this group.
The expected correction in the overall market will not be too deep, consolidating around the 1,800-point support level before returning to a positive trend.
Investors continue to maintain their previous portfolio holding positions and may open new buying positions when the overall market corrects around the psychological support level of 1,800 points.
According to experts at Vietcombank Securities Company, the VN-Index recorded a 21-point correction on April 29th.
Given the current market situation, investors are advised to closely monitor market movements and restructure their portfolios promptly if their holdings reach stop-loss/profit-taking levels.
At the same time, take advantage of opportunities to find stocks that show signs of holding their support levels, waiting for the chance to invest when the VN-Index stabilizes again. Some notable sectors in today's session include: oil and gas, real estate, and public investment.
