PNJ shares unexpectedly hit the ceiling price.
The market traded cautiously as the VN-Index fluctuated within a narrow range, liquidity was low, and divergence was evident.
Opening the trading session on the morning of August 21st, the market showed no clear signs of improvement in trend, with the VN-Index continuing to fluctuate within a narrow range. The market was quite volatile, with significant divergence on the electronic board, while liquidity remained low, indicating that cautious sentiment still dominated the flow of money.
The sectors also haven't seen much significant fluctuation, lacking stocks strong enough to create a highlight. Notably, PNJ unexpectedly surged to its ceiling price of 7%, reaching 39,900 VND/share quite early in the trading session. After more than an hour of trading, over 3.4 million units of this stock had been traded, with over 10 million shares remaining at the ceiling price, indicating strong concentrated demand.
Positive sentiment spread across the financial services sector, with SSI (+3.35%), VIX (+3.95%), SHS (+2.72%), VND (+2.22%), VCI (+2.66%), HCM (+1.2%), and TCX (+0.51%). Similarly, the industrial goods and services sector also saw gains, including VSC (+3.5%), GEX (+2.24%), PVT (+1.23%), GEE (+2.92%), PHP (+5.73%), and HAH (+1.68%).
The real estate sector saw gains in VIC (+0.05%), VHM (+0.86%), VRE (+1.24%), BCM (+2.34%), NLG (+0.21%), KDH (+0.87%), and DXG (+1.84%). The banking sector showed divergence, with gains in SHB (+0.43%), VPB (+0.4%), VCB (+0.87%), ACB (+0.68%), BID (+0.56%), MBB (-0.25%), LPB (-0.8%), and HDB (-0.19%).
At the close of trading, the VN-Index rose 4.89 points to 1,739.13 points (+0.28%) compared to the previous session. Similarly, the UPCoM-Index increased by 127.75 points (+0.4%), equivalent to 0.51 points. Meanwhile, the HNX-Index decreased by 277.65 points (-0.32%), equivalent to 0.9 points.
Market liquidity reached VND 5,184.7 billion, with 201 million shares traded. Across the sector, 166 stocks increased, 114 decreased, and 68 fell to the reference price.
According to experts at Kirin Securities Joint Stock Company, the VN-Index rose, but the overall market increase was mainly driven by large-cap stocks (VIC, VHM) and the banking sector, without a strong ripple effect across many other sectors.
Liquidity has particularly dried up, with the lowest trading volume since the beginning of the year and a sharp 37% drop compared to the 20-day average.
The increase in points, however, is heavily dependent on large-cap stocks, and the lack of liquidity suggests that the momentum for a breakout is not strong.
The VN-Index is still in a sideways consolidation phase, with no strong signal yet confirming an upward trend.
Therefore, investors are maintaining a cautious stance, holding onto their current portfolios and patiently waiting for cash flow to return before resuming net buying positions.
According to experts at Tien Phong Securities Company, investors need to maintain a cautious view regarding the future movements of the VN-Index, as the trend structure leans towards a decline in the medium term, and liquidity remains low at present, leaving the market lacking momentum.
However, opportunities still exist during corrections, especially at previously recognized medium- and long-term support levels such as 1,650 and 1,600 points, or when the market changes its trend nature after successfully breaking through the 1,780-1,800 point range.
