Leading blue-chip stocks propel the rally, VN-Index returns to the 1,850 point range.
Despite the market remaining predominantly red, strong upward momentum from the VIC - VHM duo helped the VN-Index accelerate and retest the 1,850 point level after more than an hour of trading.
At the start of the week's trading session, red dominated the electronic board for more than an hour, however, the VN-Index recorded a positive performance thanks to strong support from the duo VIC and VHM.
Both stocks are now up more than 5%, contributing a total of over 27 points to the overall index, thereby helping the VN-Index accelerate and return to challenge the 1,850 point level.
Looking at the sectors, the leading stock groups including banking, securities, and steel remain slightly differentiated and have not yet created consensus. Meanwhile, the energy sector emerged as a bright spot in the market with PVD increasing by 4.7%, BSR by 2.7%, PVT by 2%, etc.
The real estate sector showed divergence, with VIC (+6.86%), VHM (+6.81%), VRE (+4.94%), NVL (-1.55%), PDR (-1.3%), DXG (-1.5%), and KDH (-1.52%). Similarly, the banking sector saw divergence, with SHB (-1.09%), BID (+1.91%), VPB (-0.19%), TCB (+0.32%), CTG (+0.74%), and LPB (+1.25%).
Meanwhile, the oil and gas sector saw widespread gains, with PVD (+3.7%), PVS (+1.75%), BSR (+1.73%), PLX (+0.91%), OIL (+1.4%), and PVC (+2.1%).
At the close of the morning trading session on June 22nd, the VN-Index increased by 32.28 points to 1,856.81 points (+1.77%) compared to the previous session. Similarly, the UPCo M-Index increased by 127.63 points (+0.09%), equivalent to 0.11 points. Meanwhile, the HNX-Index decreased by 323.66 points (-0.36%), equivalent to 1.17 points.
Market liquidity reached VND 6,616.83 billion, with 215,000 shares traded. Across the sector, 81 stocks increased, 194 decreased, and 66 fell to their reference price.
According to experts from Asean Securities Company, technically, VN-Index is moving in a neutral state when closing at 1,825 points, between MA10 and MA20 lines and RSI indicator(14) at 48, reflecting increased selling pressure but not enough to overwhelm to break short-term support structure.
With the weakening cash flow indicated by the MFI indicator (33), the market is likely to continue to maintain a sideways movement within a narrow range around 1,820 - 1,830 points before establishing a clearer trend. Therefore, the optimal strategy at this time is to maintain a medium portfolio weight and limit chasing purchases during rallies.
Short-term investors should focus on trading within the support zone of 1,820 - 1,830 points and the resistance zone of 1,840 - 1,850 points, prioritizing stock groups with unique stories such as state divestment, market upgrade, economic development resolutions, or the offshore cycle.
Medium and long-term investors can take advantage of corrections to support levels to gradually disburse funds into sectors with strong fundamentals and high liquidity such as banking, securities, retail, public investment, and oil and gas.
According to experts at AIS Securities Company, at the end of last week's trading, the VN-Index recovered strongly, increasing by +32.88 points (+1.84%), closing at 1,824.53 points. The index successfully maintained its support level at the 20-week moving average (MA20).
The cash flow is mainly concentrated in the Vingroup group (VIC, VHM, VRE), with support from the securities and banking sectors.
Meanwhile, the continued large-scale net selling by foreign investors is a cause for concern. For a truly sustainable recovery, the market urgently needs widespread consensus and a stronger breakthrough from large capital inflows.
The market's next target will be to retest the resistance zone of 1,845 points (equivalent to the 50-day moving average). Further down the range is the resistance zone of 1,870 - 1,880 points.
