Unexpected hit, cash flow chasing prices, VN-Index successfully “patched” the 1,200 point mark

All the gloom in yesterday’s forced drop of nearly 13 points has disappeared when the market was “pushed” up very quickly and continuously today. VN-Index increased steadily towards the end, closing the day at 1,205.61 points, regaining the psychological threshold of 1,200 points lost 4 sessions ago. Foreign investors, if not counting the capital withdrawal transaction in FUEVFVND fund certificates, would still be a very large net buyer today with many blue-chips.

Today’s increase of 28.21 points of VN-Index, equivalent to +2.4%, is the strongest increase since the session on November 8, 2023, that is, from the beginning of the last rising wave. This development occurred after the market corrected nearly 9% and many codes adjusted 15%-20%, showing a positive change in psychology. It should also be noted that yesterday the market suddenly fell nearly 13 points after the first session of the week increased 15 points, making many investors disappointed.

Today’s trading is in an extremely excited state even though there is no unexpected new support information. However, the demand for high prices is very good and buyers accept continuous price increases. The movement increased continuously throughout the day and there was no correction in the VN-Index. The breadth remained completely overwhelming, HoSE closed with 435 codes increasing/69 codes decreasing, of which 18 codes hit the ceiling, 155 other codes increased over 2% and the number increasing from 1% to 2% was 65 codes.

The initial increase did not have a good consensus in terms of liquidity, but later on the cash flow became stronger. For the whole day, the total matched value of the two listed exchanges reached 18,326 billion VND, an increase of 9% compared to yesterday’s session. If calculating the total market transactions including agreements, the 3 exchanges reached 21,755 billion VND, an increase of 14%.

HoSE recorded 47 stocks with liquidity of 100 billion VND or more, all of which increased, of which 38 stocks increased by over 2%. Leading the way was FPT, which increased to the ceiling and had the largest liquidity in the market with 1,204.7 billion VND. FPT officially had a new historical peak in today’s session at 120,100 VND/share. In general, the remaining strongest gainers all have very high market value such as VTP, NLG, PDR, DIG, TCH, DXG… The VN30 blue-chips basket only contributed more GVR and increased at full amplitude.

However, the increase of the VN30-Index is even stronger than the VN-Index when closing above the reference of 2.65%. 22 codes in this basket increased by more than 1% with the leading capitalization pillars being BID up 1.21%, CTG up 4.6%, VHM up 1%, HPG up 4.35%, TCB up 1.73%, VIC increased 1.46%, FPT increased 6.95% and VPB increased 1.09%. It’s a bit unfortunate that the largest stock, VCB, only increased by 0.55% and the 5th largest stock, GAS, increased by 0.54%.

Foreign investors today are also chasing prices very enthusiastically. FUEVFVND fund certificates suddenly had a net sale of 977 billion VND after the ATC session, causing the overall position of foreign investors on HoSE today to be -244 billion VND. However, if calculating stock transactions, this block still net bought about 733 billion VND.

The series of stocks strongly bought by foreign investors are HPG +164.4 billion, MWG +160.1 billion, VND +91.2 billion, SSI +72.5 billion, TPB +60.7 billion, TCH +49.1 billion , DGW +47.3 billion, VPB +39.6 billion, DIG +38.4 billion, PDR +31.7 billion… It can be seen immediately that many codes in this group also increased extremely strongly, even to the ceiling. Foreign investors agreed to chase prices up to the full range, showing a very aggressive buying attitude.

Today’s extremely strong increase has caused the last 3 sessions to have a high probability of forming a bottom. First, the VN-Index retreated yesterday without creating a new deep bottom and today the bottom escape amplitude has widened. Liquidity also started to recover. The market may still fluctuate up and down in the coming days but as long as this week’s low holds, the bottom could be confirmed.