Oil and gas stocks lead the rally, VN-Index approaches the 1,770 point mark.
The surge in oil and gas stocks, along with many blue-chip stocks such as VNM, GVR, and GAS, helped the VN-Index maintain its positive performance.
Opening the trading session on the morning of August 7th, after a slight correction and fluctuation around the 1,760 point mark, buying pressure gradually prevailed, helping the VN-Index reverse and rise again, reaching around the 1,770 point mark.
The color green spread widely as many sectors simultaneously experienced positive performance, notably oil and gas, insurance, materials, and utilities.
The market's upward momentum came from several large-cap stocks. VNM, GVR, and GAS all hit their upper limits, while SAB, CTG, BID, and BSR also surged by 3-5%, significantly supporting the overall index.
Nevertheless, the upward momentum of the VN-Index was somewhat restrained by the lackluster performance of Vingroup's stocks. Stocks in this group all experienced slight declines, putting pressure on the index and preventing it from widening its gains.
In the mid- and small-cap group, capital continued to flow into oil and gas and chemical stocks such as DCM, DPM, DGC, PVD, and PLX, all rising by 3-6%, becoming the standout highlights of the market in the morning session.
Positive sentiment spread across the oil and gas sector, with BSR (+5.59%), PLX (+6.97%), PVD (+3.1%), PVS (+3.53%), OIL (+5.43%), and PVC (+6.03%). Similarly, the industrial goods and services sector saw gains, including GEX (+1.22%), ACV (+5.91%), PVT (+2.8%), VTP (+3.21%), VEA (+1.44%), and GMD (+0.39%).
Meanwhile, the banking sector showed mixed performance, with TCB (-0.34%), VPB (-1.59%), BID (+2.9%), VCB (+2.2%), and CTG (+2.71%). Similarly, the real estate sector saw mixed results, with VIC (-2.38%), VHM (-3.63%), VRE (-1.98%), IDC (+2.75%), VPI (+0.48%), and BCM (+6.93%).
At the close of this morning's trading session, the VN-Index rose 2.93 points to 1,767.71 points (+0.17%) compared to the previous session. Similarly, the HNX-Index increased by 292.69 points (+0.02%), equivalent to 0.05 points, and the UPCoM-Index increased by 127.33 points (+0.4%), equivalent to 0.51 points.
Market liquidity reached VND 7,942.31 billion, with 281,000 shares traded. Across the sector, 173 stocks increased, 113 decreased, and 62 fell to their reference price.
According to experts at Asean Securities Company, the VN-Index is sending a neutral signal as it closed yesterday's session at 1,765 points. Although it remains above the MA10 and MA20 lines, increased selling pressure at the end of the session, along with the weakening MFI indicator to 42, suggests that the supply side is dominant in the short term.
With the RSI at 49, the market is likely to continue consolidating within a narrow range of 1,760-1,770 points before establishing a clearer trend.
Therefore, short-term investors should maintain an average portfolio allocation, avoid chasing rallies, and focus on trading within the 1,760-1,790 point range, while prioritizing sectors with supporting narratives such as state divestment and market upgrades.
For medium- and long-term strategies, corrections to support levels present opportunities to gradually invest in fundamentally sound and highly liquid stocks in the banking, securities, retail, public investment, and oil and gas sectors.