Market kicks off the mid-March week with a gain

Market kicks off the mid-March week with a gain

Market breadth favoured the positive, with 185 advancing stocks compared to 111 decliners.

An SHB transaction office in Hà Nội. The bank's SHB shares rose on Monday, contributing to a positive start for the VN-Index in the new week — VNA/VNS Photo

The stock market kicked off the mid-March trading week with gains, as the VN-Index reclaimed the 1,330-point level and aimed for 1,340 points. While liquidity declined slightly compared to the previous session, foreign investors showed signs of bottom-fishing.

On the Hồ Chí Minh Stock Exchange (HoSE), the VN-Index rose by 10.11 points, or 0.76 per cent, closing at 1,336.26 points. Market breadth was positive, with 185 advancing stocks compared to 111 decliners. Trading liquidity fell slightly to VNĐ20.2 trillion (US$791.2 million), with over 954 million shares traded.

The VN30-Index, which tracks the 30 largest-cap stocks, also gained 7.87 points, or 0.57 per cent, reaching 1,394.9 points. Within the VN30 basket, 17 stocks advanced, nine declined, and four remained unchanged.

The market rally was led by the Bank for Foreign Trade of Vietnam (VCB), which gained 1.97 per cent, contributing over 1.8 points to the VN-Index.

Other major gainers included Vietnam Prosperity Joint Stock Commercial Bank (VPB), which surged 3.06 per cent, and Investment and Industrial Development Corporation (BCM), which climbed 3.54 per cent. Additionally, Vietnam Airlines JSC (HVN) and Saigon Hanoi Commercial Joint Stock Bank (SHB) gained 3.77 per cent and 5.14 per cent, respectively.

On the downside, FPT Corporation (FPT) fell 1.07 per cent, while Vietnam Rubber Group - Joint Stock Company (GVR) dropped 0.75 per cent and Masan Group Corporation (MSN) declined 0.84 per cent.

According to SHS Securities analysts, the VN-Index is trending up over the short term, with support levels at 1,315 points and stronger support at 1,300 points. However, profit-taking pressure is increasing as the VN-Index and VN30 approach strong resistance zones at 1,350 and 1,400 points, respectively.

"In the short term, we do not see this as an attractive price range for further investment. Investors with high exposure or overly diversified portfolios should consider reducing their positions and restructuring weaker stocks," SHS noted.

"Market momentum is weakening as many mid- and small-cap stocks face heavy selling pressure after extended gains over the past seven to eight weeks. While a few opportunities remain in real estate and VN30 stocks that have yet to rise significantly, investors should carefully manage risk, especially for loss-making positions. Any increase in portfolio exposure should be selective and based on Q1 earnings performance.

"We recommend maintaining a balanced portfolio, focusing on fundamentally strong stocks in key strategic sectors with high growth potential," SHS analysts added.

On the Hà Nội Stock Exchange (HNX), the HNX-Index gained 1.66 per cent, closing at 246.77 points. Trading value on the northern exchange exceeded VNĐ1.1 trillion, with over 58 million shares traded.

Meanwhile, foreign investors turned net buyers, purchasing over VNĐ204 billion worth of shares on the HoSE. 

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