Bank stocks rallied, VN-Index continued its upward trend.

At the opening of trading on Monday, the market quickly reversed course and corrected. Despite significant pressure from Vingroup shares, especially VIC, the relatively positive performance of key blue-chip stocks helped the VN-Index regain its upward momentum.

After more than an hour of trading, the VN-Index fell to near the 1,800-point mark before quickly rebounding thanks to strong buying pressure on blue-chip stocks. The VN-Index regained its positive momentum with a slight increase of about 5 points, with the VN30 group rising by more than 12 points.

The banking sector is playing a supportive role, with green dominating the entire industry, and LPB and HDB showing the best gains, both rising by around 3%.

In addition, there was considerable divergence among Vingroup stocks, with VHM (+4.27%), VIC (-0.53%), and VRE (+1.92%).

At the close of the morning trading session on April 20th, strong gains were recorded in the banking sector with TCB (+1.4%), VPB (+0.36%), HDB (+2.29%), VCB (+0.67%), and EIB (+1.12%). Similarly, the financial services sector saw gains including HCM (+2.41%), VCI (+0.37%), SSI (+1.4%), VND (+0.3%), and VCK (+0.44%).

The real estate sector showed mixed performance, with DXG (+0.34%), VPI (-0.65%), NVL (-0.59%), TCH (-0.29%), and KBC (-0.43%).

The industrial goods and services group saw GEX (+5.26%), GEE (+6.96%) hit the ceiling, VSC (+0.6%), GMD (+0.8%) and VTP (+0.1%). The retail group saw MWG (+0.58%), DGW (-1.52%), FRT (-0.66%) and PET (-1.04%).

The VN-Index rose 9.16 points to 1,826.33 points (+0.5%) compared to the previous session. Similarly, the UPCoM-Index increased by 128.99 points (+0.48%), equivalent to 0.62 points. Meanwhile, the HNX-Index decreased by 257.7 points (-0.88%), equivalent to 2.3 points.

Market liquidity this morning reached VND 10,379.372 billion, with 334,000 shares traded. Across the sector, 156 stocks rose (8 hitting the ceiling price), 133 stocks fell (1 hitting the floor price), and 73 stocks dropped to the reference price.

According to experts at Pinetree Securities, the market ended the previous trading week with positive figures as the VN-Index conquered the 1,800-point mark, driven by Vingroup stocks (VIC and VHM alone contributed more than 70%).

The slight decrease in liquidity and selling pressure at the end of Friday's session reflected market skepticism as the market became fragmented, with localized gains in certain sectors leading to increased profit-taking pressure.

On the technical chart, quite a few Doji candlesticks have appeared in the hourly timeframe, indicating market indecision and significant profit-taking pressure.

Looking at the scores, the positive performance of the Vingroup group makes the market look better than it actually is, but the cash flow in other major sectors like banking is not as strong.

The market is highly likely to experience a consolidation phase during the last trading week before the holiday. Investors should limit leverage, open new buy positions within the trading session, and proactively take profits to protect their gains.

According to experts at Vietcombank Securities Company, the VN-Index closed last week with a gravestone doji candlestick after several strong breakout sessions.

On the daily chart, momentum indicators maintain a positive trend, with the RSI continuing to move upwards towards the overbought zone. Simultaneously, the MACD indicator continues to widen the gap between its two signal lines, suggesting that buyers remain dominant in the market.

On the hourly chart, short-term profit-taking pressure is gradually increasing. Specifically, the RSI shows signs of cooling down after reaching the overbought level, combined with the MACD band giving a bearish crossover signal.

These developments suggest that the market is likely to continue facing fluctuations and tug-of-war in the early sessions of next week to re-test demand, with the nearest support level to pay special attention to at 1,801 points (equivalent to the MA20 moving average).