Market ticks up in last trading minutes

Market ticks up in last trading minutes

Given the current market conditions, a short-term strategy of prioritising observation is recommended.

Shares of Vietjet Aviation soared nearly 4.8 per cent on Thursday, leading the market's recovery. — Photo vietnamplus.vn

The Vietnamese stock market witnessed a cautious recovery on Thursday, bolstered by large-cap stocks. However, foreign net selling pressure, coupled with mixed sector performances, kept investors wary.

The VN-Index on the Hochiminh Stock Exchange (HoSE) rose 3.32 points, or 0.2 per cent, to 1,676.98 points.

The southern market's breadth, however, remained negative, as the number of decliners still surpassed that of gainers by 150 to 141. Liquidity continued to decline from the previous session, totalling nearly VNĐ18.6 trillion (US$705.6 million).

The VN30-Index, tracking the 30 largest stocks on HoSE, also ticked up by 5.52 points, or 0.29 per cent, to 1,903.47 points. In the VN30 basket, 16 stocks increased, while nine fell and five remained unchanged.

After spending most of the session below reference levels, the VN-Index managed to regain positive territory in the final minutes of trading, propelled by support from the banking sector and key blue-chip stocks, with Vietjet Aviation (VJC) leading the gains.

The airline's shares soared 4.8 per cent, with liquidity surpassing VNĐ405 billion, making it the eighth-highest by volume on HoSE. Following closely was GEE from Gelex Electricity, which also contributed to the market's positive momentum.

The banking sector played a crucial supportive role, with five banks appearing among the top ten stocks contributing significantly to the market's gains. These included HDBank (HDB), Techcombank (TCB), VPBank (VPB), MBBank (MBB) and Sahabank (SHB), all recording increases around 1 per cent.

Conversely, several stocks weighed on the market, including FPT Corporation (FPT), Duc Giang Chemicals (DGC), Vietinbank (CTG), and Becamex (BCM).

Duc Giang Chemicals faced relentless selling pressure, marking three consecutive days at the floor price. Today, it fell to VNĐ74,900 per share, with more than 22 million shares available for sale.

In this volatile trading environment, many investors chose to remain on the sidelines, reflecting a cautious strategy.

On the Hanoi Stock Exchange (HNX), the HNX-Index gained slightly by 0.11 points, or 0.04 per cent, to 253.23 points.

After a modest net buying session, foreign investors returned to a net selling position, totalling nearly VNĐ852 billion.

In its pre-trading analysis, VPBank Securities (VPX) noted that technically, the index continues to hover below a strong resistance zone around 1,680-1,695 points, while the 100-day moving average (MA100) remains a significant support level. Momentum indicators have yet to show clear improvement, and adjustment risks persist.

Given the current market conditions, a short-term strategy prioritising observation is recommended. Investors are advised to engage in short-term trades with a low proportion of their investment, particularly at support levels, while refraining from chasing prices until a clear uptrend is confirmed. 

Bizhub