Oil and gas stocks surged on the morning of September 16th.
On the morning of September 16th, while the VN-Index continued to fluctuate around the reference point, the oil and gas sector maintained its positive upward momentum. Stocks like PVD, BSR, PVT, OIL, and PLX all performed well, becoming notable highlights on the trading board.
Opening the trading session on the morning of September 16th, the market continued to fluctuate within a narrow range around the reference point. Although green dominated the electronic board, the volatility of most stocks remained quite modest, especially in the group of leading stocks driving the market.
Following a strong recovery in the previous session, this development shows that investors remain cautious as the VN-Index approaches the short-term resistance zone of 1,830-1,840 points. This is also a resistance level noted by several securities companies, while the 1,780 point mark continues to be considered an important support zone.
If demand is not strong enough to help the VN-Index break through the upper resistance zone, the market may continue to experience fluctuations and consolidation before establishing a clearer trend.
In the oil and gas group, gains were recorded in PLX (+3.7%), PVD (+1.78%), PVS (+1.75%), BSR (+2.98%), OIL (+4.83%), and PVC (+2.27%). In the chemical group, gains were recorded in DPM (+1.52%), GVR (+4.52%), DRI (+4.23%), BFC (+2.92%), DPR (+1.59%), and PHR (+1.59%).
The banking sector was dominated by red, with VPB (-0.36%), TCB (-0.31%), VCB (-0.5%), HDB (-0.92%), SHB (-0.87%), and LPB (-1.58%). The financial services sector also saw declines, including SSI (-0.48%), HCM (-0.8%), TCX (-1.04%), MBS (-0.6%), VCK (-0.7%), and ORS (-1.15%).
At the close of trading, the VN-Index rose 1.89 points to 1,813.04 points (+0.1%) compared to the previous session. Similarly, the UPCoM-Index increased by 125.75 points (+0.22%), equivalent to 0.28 points. Meanwhile, the HNX-Index decreased by 273.72 points (-0.15%), equivalent to 0.41 points.
Market liquidity reached VND 5,907.79 billion, with 231 million shares traded. Across the sector, 116 stocks increased, 184 decreased, and 49 fell to the reference price.
According to experts at Kirin Securities Joint Stock Company, yesterday, the VN-Index recovered strongly, but liquidity decreased somewhat compared to the two previous declining sessions.
Notably, the sharp increase was not solely dependent on large-cap stocks as before, but spread across many sectors, indicating a much more optimistic investor sentiment.
Investors are advised to consider buying more and increasing their holdings in profitable stocks in the coming sessions. A cautious approach is needed, waiting for a market correction that brings the VN-Index back to around the psychological 1,800-point mark to secure a safe position.
According to experts at AIS Securities Company, the VN-Index had a strong recovery session, successfully maintaining key support levels at the 20-day, 50-day, and 200-day moving averages (MA20, MA50, and MA200).
The flow of money spread to most sectors, notably energy, securities, and banking.
If the price momentum is maintained, the market will retest the 1,830-1,840 point resistance zone in the coming trading sessions.